Arkadios Wealth Advisors lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 133.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,295 shares of the company's stock after acquiring an additional 7,028 shares during the period. Arkadios Wealth Advisors' holdings in Okta were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. South Dakota Investment Council boosted its holdings in shares of Okta by 11.1% in the 1st quarter. South Dakota Investment Council now owns 47,783 shares of the company's stock valued at $3,761,000 after purchasing an additional 4,777 shares in the last quarter. IFS Group LLC bought a new stake in shares of Okta during the 1st quarter worth $375,000. Encore Global Management LP bought a new stake in shares of Okta during the 1st quarter worth $2,007,000. Smith Group Asset Management LLC boosted its stake in Okta by 9.3% in the first quarter. Smith Group Asset Management LLC now owns 377,105 shares of the company's stock valued at $29,682,000 after buying an additional 32,078 shares in the last quarter. Finally, Amundi boosted its stake in Okta by 19.7% in the first quarter. Amundi now owns 609,207 shares of the company's stock valued at $47,951,000 after buying an additional 100,252 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.
Insider Transactions at Okta
In other news, insider Larissa Schwartz sold 2,463 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the sale, the insider owned 25,241 shares in the company, valued at $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The transaction 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 68,936 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the transaction, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. This represents a 64.17% 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. In the last ninety days, insiders have sold 168,901 shares of company stock valued at $22,124,162. Company insiders own 4.61% of the company's stock.
Analyst Ratings Changes
OKTA has been the topic of a number of research analyst reports. Mizuho downgraded shares of Okta from an "outperform" rating to a "neutral" rating and raised their price target for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of Okta in a research note on Friday, May 29th. Royal Bank Of Canada raised their target price on shares of Okta from $108.00 to $122.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. UBS Group raised their target price on shares of Okta from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group raised shares of Okta from a "buy" rating to a "buy" rating in a research note on Monday, July 6th. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.81.
Check Out Our Latest Report on OKTA
Okta Stock Performance
Okta stock opened at $147.82 on Wednesday. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 107.12, a PEG ratio of 5.09 and a beta of 0.77. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $157.00. The stock's 50 day moving average price is $131.25 and its two-hundred day moving average price is $98.34.
Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating 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 analyst estimates of $751.84 million. During the same quarter in the previous year, the business posted $0.86 EPS. Okta's revenue for the quarter 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. On average, equities research analysts forecast that Okta, Inc. will post 1.75 EPS for the current year.
Okta Company Profile
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Free Report)
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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