34,143 Shares in Okta, Inc. $OKTA Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP initiated a new position in Okta during the fourth quarter, buying 34,143 shares valued at about $2.95 million.
• Okta continues to attract large institutional ownership, with major holders like Vanguard and First Trust increasing their stakes; overall, institutions own 86.64% of the stock.
• The company reported a solid quarter, with EPS of $0.91 and revenue of $765 million, both beating expectations, while analysts currently rate the stock a Moderate Buy with a consensus target price of $114.14.

Entropy Technologies LP acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,143 shares of the company's stock, valued at approximately $2,952,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. First Trust Advisors LP boosted its holdings in Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company's stock valued at $521,422,000 after purchasing an additional 1,326,051 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock valued at $281,246,000 after purchasing an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Okta by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company's stock valued at $215,776,000 after purchasing an additional 69,653 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Okta by 9.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company's stock valued at $204,162,000 after purchasing an additional 189,036 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OKTA shares. HSBC raised Okta to a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group lifted their price objective on Okta from $105.00 to $120.00 and gave the company a "buy" rating in a report on Friday, May 29th. Seaport Research Partners lowered Okta to a "neutral" rating in a report on Thursday, April 16th. TD Cowen lowered their price objective on Okta from $115.00 to $105.00 and set a "hold" rating on the stock in a report on Tuesday, February 24th. Finally, KeyCorp lifted their price objective on Okta from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.14.

Okta Price Performance

Shares of Okta stock opened at $116.29 on Monday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The company has a market capitalization of $20.21 billion, a P/E ratio of 84.27, a P/E/G ratio of 4.21 and a beta of 0.80. The business has a 50 day moving average price of $88.83 and a 200 day moving average price of $85.85.

Okta (NASDAQ:OKTA - Get Free Report) last issued 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 return on equity of 4.15% and a net margin of 8.24%.The firm 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 posted $0.86 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, research analysts expect that Okta, Inc. will post 1.74 EPS for the current fiscal year.

Insider Activity

In other Okta news, CFO Brett Tighe sold 65,000 shares of Okta 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 completion of the sale, the chief financial officer directly owned 119,680 shares of the company's stock, valued at approximately $14,032,480. The trade was a 35.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Okta stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the completion of the sale, the insider directly owned 23,477 shares of the company's stock, valued at $3,148,970.01. The trade was 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. Over the last three months, insiders sold 159,019 shares of company stock worth $16,449,580. 4.61% of the stock is owned by corporate insiders.

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.

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