SG Americas Securities LLC Increases Holdings in Okta, Inc. $OKTA

SG Americas Securities LLC raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 641.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,421 shares of the company’s stock after purchasing an additional 339,515 shares during the period. SG Americas Securities LLC’s holdings in Okta were worth $30,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Elevation Wealth Partners LLC increased its stake in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the period. SHP Wealth Management bought a new stake in Okta in the fourth quarter valued at $27,000. Torren Management LLC purchased a new position in Okta during the 4th quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new position in Okta during the 3rd quarter valued at $34,000. Finally, Spire Wealth Management raised its holdings in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 65,000 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 119,680 shares in the company, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider owned 23,477 shares in the company, valued at approximately $3,148,970.01. This represents a 51.54% 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. Insiders sold a total of 111,611 shares of company stock worth $12,832,682 in the last three months. Corporate insiders own 4.61% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
• Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details

Okta Stock Performance

NASDAQ:OKTA opened at $118.16 on Wednesday. The firm has a market cap of $20.54 billion, a P/E ratio of 85.62, a P/E/G ratio of 4.20 and a beta of 0.80. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The firm has a 50-day simple moving average of $94.64 and a two-hundred day simple moving average of $87.58.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. 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 predict that Okta, Inc. will post 1.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OKTA. Susquehanna lifted their target price on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Cantor Fitzgerald increased their price target on shares of Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Piper Sandler lifted their price objective on Okta from $82.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Morgan Stanley lifted their price objective on Okta from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $114.14.

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.