3,319 Okta, Inc. $OKTA Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 7.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 43,451 shares of the company’s stock after selling 3,319 shares during the quarter. Yousif Capital Management LLC’s holdings in Okta were worth $9,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Brookstone Capital Management purchased a new stake in Okta in the 3rd quarter worth approximately $244,000. Root Financial Partners LLC purchased a new position in Okta during the third quarter valued at approximately $112,000. SBI Securities Co. Ltd. lifted its holdings in Okta by 15.6% during the third quarter. SBI Securities Co. Ltd. now owns 7,736 shares of the company’s stock valued at $1,618,000 after purchasing an additional 1,045 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Okta during the third quarter valued at approximately $32,947,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Okta in the third quarter worth approximately $240,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OKTA shares. Morgan Stanley increased their price objective on shares of Okta from $200.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 29th. Wells Fargo & Company lifted their target price on shares of Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. The Goldman Sachs Group lifted their target price on shares of Okta from $126.00 to $203.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Barclays upped their target price on shares of Okta from $180.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Finally, Mizuho increased their price target on Okta from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Price Performance

OKTA stock opened at $213.05 on Friday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 128.34, a PEG ratio of 6.63 and a beta of 0.73. The business has a 50 day simple moving average of $185.47 and a two-hundred day simple moving average of $138.26.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Sell-side analysts anticipate that Okta, Inc. will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares in the company, valued at approximately $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is owned by insiders.

Okta Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.