Plato Investment Management Ltd Purchases New Stake in Okta, Inc. $OKTA

Plato Investment Management Ltd acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,663 shares of the company’s stock, valued at approximately $904,000.

Other institutional investors have also recently bought and sold shares of the company. SHP Wealth Management acquired a new position in shares of Okta in the 4th quarter valued at about $27,000. Torren Management LLC acquired a new stake in shares of Okta during the fourth quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after purchasing an additional 218 shares during the period. Assetmark Inc. grew its position in Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Okta by 1,265.5% during the first quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock valued at $59,000 after purchasing an additional 696 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 65,000 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the sale, the chief financial officer owned 119,680 shares in the company, valued at approximately $14,032,480. This represents a 35.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. This represents a 16.86% decrease in their position. 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 ninety days, insiders sold 165,347 shares of company stock valued at $21,827,342. Corporate insiders own 4.61% of the company’s stock.

Okta Stock Up 0.5%

OKTA stock opened at $143.92 on Wednesday. The firm has a 50 day moving average of $137.06 and a two-hundred day moving average of $102.38. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $157.00. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 104.29, a P/E/G ratio of 5.30 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter last year, the firm earned $0.86 EPS. 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. On average, research analysts expect that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OKTA shares. Canaccord Genuity Group increased their target price on shares of Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Susquehanna boosted their price target on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Okta in a research note on Friday, May 29th. Raymond James Financial lowered Okta from a “buy” rating to a “strong sell” rating in a report on Monday, July 6th. Finally, Arete Research set a $127.00 price objective on Okta and gave the company a “buy” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.51.

Okta Company Profile

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.