RWA Wealth Partners LLC Has $2.30 Million Position in Okta, Inc. $OKTA

Key Points

• RWA Wealth Partners LLC reduced its stake in Okta, Inc. by 15.8% during the first quarter, now holding 21,819 shares valued at approximately $2.3 million.
• Okta's stock opened at $91.38 and has a market capitalization of $16 billion, with a 52-week trading range between $70.56 and $127.57.
• In its latest earnings report, Okta beat analyst expectations with an EPS of $0.86 and revenue of $688 million, showing an 11.5% year-over-year growth.

RWA Wealth Partners LLC reduced its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 15.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 21,819 shares of the company's stock after selling 4,109 shares during the quarter. RWA Wealth Partners LLC's holdings in Okta were worth $2,296,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of OKTA. Massachusetts Financial Services Co. MA lifted its position in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after buying an additional 2,830,582 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of Okta in the 1st quarter worth about $189,915,000. Alyeska Investment Group L.P. lifted its position in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after buying an additional 1,699,176 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after acquiring an additional 1,572,786 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Up 2.5%

Shares of OKTA traded up $2.27 during midday trading on Friday, hitting $92.05. The stock had a trading volume of 2,740,094 shares, compared to its average volume of 3,559,682. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The business has a 50-day simple moving average of $95.73 and a two-hundred day simple moving average of $102.45. The firm has a market cap of $16.12 billion, a P/E ratio of 146.11, a price-to-earnings-growth ratio of 4.40 and a beta of 0.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period last year, the company posted $0.65 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. As a group, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on OKTA shares. Guggenheim reaffirmed a "buy" rating and issued a $138.00 price objective on shares of Okta in a report on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. Mizuho dropped their price objective on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the stock a "market perform" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Twenty research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $117.92.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider directly owned 23,640 shares in the company, valued at $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 31,592 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the transaction, the chief executive officer owned 20,682 shares of the company's stock, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,594 shares of company stock valued at $8,382,790. Company insiders own 5.68% of the company's stock.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.