Dimensional Fund Advisors LP Trims Position in Okta, Inc. $OKTA

Dimensional Fund Advisors LP lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,249,173 shares of the company’s stock after selling 48,107 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Okta were worth $98,285,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of OKTA. SHP Wealth Management purchased a new position in shares of Okta during the 4th quarter worth $27,000. Torren Management LLC acquired a new position in Okta in the fourth quarter valued at $32,000. Spire Wealth Management lifted its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. V Square Quantitative Management LLC purchased a new position in Okta during the fourth quarter worth about $56,000. Finally, Assetmark Inc. boosted its stake in Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after buying an additional 322 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Performance

NASDAQ OKTA opened at $136.91 on Thursday. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 99.21, a PEG ratio of 4.90 and a beta of 0.77. Okta, Inc. has a one year low of $62.66 and a one year high of $157.00. The company’s 50 day moving average price is $127.17 and its 200 day moving average price is $96.94.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the firm earned $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts forecast that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the sale, the director owned 9,192 shares in the company, valued at $781,320. This trade represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock worth $22,534,353 in the last quarter. Insiders own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. Mizuho downgraded shares of Okta from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Evercore assumed coverage on shares of Okta in a report on Monday, July 6th. They issued an “outperform” rating for the company. Susquehanna upped their price target on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Arete Research set a $127.00 price target on shares of Okta and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.81.

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.