Okta, Inc. $OKTA Stock Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 19.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the company’s stock after selling 3,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Okta were worth $2,635,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Okta by 0.4% in the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock valued at $117,821,000 after acquiring an additional 6,533 shares in the last quarter. Senvest Management LLC raised its stake in shares of Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock worth $65,370,000 after acquiring an additional 292,900 shares during the last quarter. Aberdeen Group plc raised its stake in shares of Okta by 585.3% in the third quarter. Aberdeen Group plc now owns 822,864 shares of the company’s stock worth $172,069,000 after acquiring an additional 702,785 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Okta by 114.3% during the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock worth $58,718,000 after purchasing an additional 397,951 shares in the last quarter. Finally, Amundi lifted its position in shares of Okta by 19.7% during the first quarter. Amundi now owns 609,207 shares of the company’s stock worth $47,951,000 after purchasing an additional 100,252 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.2%

OKTA stock traded up $0.33 during midday trading on Friday, reaching $182.87. The company’s stock had a trading volume of 2,426,498 shares, compared to its average volume of 5,137,857. The business’s 50-day simple moving average is $198.10 and its 200-day simple moving average is $129.17. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $235.00. The stock has a market cap of $31.97 billion, a PE ratio of 110.16, a price-to-earnings-growth ratio of 5.68 and a beta of 0.74.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, equities analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the sale, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. This represents a 84.28% decrease in their position. The sale was disclosed in a legal filing 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 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. This trade represents a 52.58% 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. Insiders have sold 137,766 shares of company stock worth $23,927,112 in the last three months. Insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on OKTA shares. TD Cowen increased their price target on shares of Okta from $175.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, September 24th. DA Davidson boosted their price objective on shares of Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Raymond James Financial upped their price objective on Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. BTIG Research reiterated a “buy” rating and issued a $219.00 price objective on shares of Okta in a research report on Thursday, September 24th. Finally, KeyCorp set a $240.00 target price on Okta and gave the company an “overweight” rating in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.38.

About Okta

Okta, Inc. provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources. Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.