Cwm LLC Trims Position in Okta, Inc. $OKTA

Key Points

• Cwm LLC cut its stake in Okta by 68.3% in Q4, selling 19,884 shares and leaving it with 9,234 shares valued at about $798,000.
• Okta beat Q results (EPS $0.90 vs $0.85 est., revenue $761M, +11.6% YoY), gave FY‑2027 guidance of $3.740–$3.820 EPS and authorized a $1.0 billion share buyback (~6.8% of shares).
• Analysts maintain a consensus of "Moderate Buy" with an average target of $101.95 after several firms trimmed targets, while insiders sold 63,843 shares (~$5.07M) last quarter and now own 5.68% of the company.

Cwm LLC lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 68.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,234 shares of the company's stock after selling 19,884 shares during the period. Cwm LLC's holdings in Okta were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Okta by 5.7% in the third 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 during the period. Robeco Institutional Asset Management B.V. raised its stake in Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock worth $40,241,000 after purchasing an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co raised its stake in Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company's stock worth $4,823,000 after purchasing an additional 15,058 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Okta in the 3rd quarter valued at $7,946,000. Finally, Congress Asset Management Co. boosted its holdings in shares of Okta by 23.0% in the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company's stock valued at $8,480,000 after purchasing an additional 18,325 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKTA. BTIG Research downgraded Okta from a "buy" rating to a "hold" rating in a report on Thursday, April 16th. Stephens reduced their target price on Okta from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, March 5th. Jefferies Financial Group lowered their price target on Okta from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. KeyCorp dropped their price target on Okta from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, April 15th. Finally, Morgan Stanley cut their price objective on Okta from $110.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, March 5th. Twenty-nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of "Moderate Buy" and an average target price of $101.95.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 6,377 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total transaction of $508,565.75. Following the sale, the insider directly owned 54,825 shares in the company, valued at approximately $4,372,293.75. This trade represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the company's stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the transaction, the executive owned 4,364 shares of the company's stock, valued at approximately $339,475.56. This represents a 84.23% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 63,843 shares of company stock worth $5,071,889. Insiders own 5.68% of the company's stock.

Okta Trading Up 0.1%

Shares of Okta stock opened at $76.20 on Wednesday. The company has a fifty day moving average price of $75.94 and a 200 day moving average price of $83.26. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $127.57. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.97 and a beta of 0.76.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm's revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts forecast that Okta, Inc. will post 1.61 earnings per share for the current year.

Okta announced that its board has authorized a share buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.

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