S&CO Inc. Raises Holdings in Okta, Inc. $OKTA

S&CO Inc. increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 19.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 72,779 shares of the company’s stock after purchasing an additional 11,861 shares during the quarter. S&CO Inc.’s holdings in Okta were worth $5,728,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OKTA. First Trust Advisors LP boosted its position in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after acquiring an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Okta by 2.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after purchasing an additional 69,653 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Okta by 28.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKTA. Needham & Company LLC raised their price objective on Okta from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. HC Wainwright began coverage on shares of Okta in a report on Monday, July 6th. They issued a “buy” rating for the company. Berenberg Bank increased their price target on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 29th. DA Davidson raised their price target on shares of Okta from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Okta in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Insider Buying and Selling at Okta

In related news, Director Shellye L. Archambeau sold 2,500 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director directly owned 9,192 shares of the company’s stock, valued at $781,320. This trade represents a 21.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of Okta stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the completion of the sale, the chief executive officer owned 38,484 shares of the company’s stock, valued at $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 174,224 shares of company stock valued at $22,534,353. Insiders own 4.61% of the company’s stock.

Okta Price Performance

Okta stock opened at $149.35 on Friday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $157.00. The business has a fifty day moving average price of $118.22 and a 200-day moving average price of $94.07. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 108.23, a PEG ratio of 5.37 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities research analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.