Okta, Inc. $OKTA Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,249,173 shares of the company's stock after selling 48,107 shares during the quarter. Dimensional Fund Advisors LP owned about 0.71% of Okta worth $98,285,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OKTA. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock valued at $40,241,000 after acquiring an additional 161,069 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Okta in the fourth quarter valued at about $3,122,000. Swedbank AB lifted its position in Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company's stock valued at $157,296,000 after purchasing an additional 1,007,915 shares during the period. Diversify Wealth Management LLC purchased a new stake in Okta in the 1st quarter valued at approximately $2,077,000. Finally, Torque Asset Management LLC boosted its holdings in Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company's stock valued at $25,002,000 after purchasing an additional 83,337 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OKTA shares. Wolfe Research assumed coverage on Okta in a research note on Thursday, April 16th. They set an "outperform" rating for the company. Wall Street Zen downgraded Okta from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. DA Davidson upped their price objective on Okta from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, May 29th. KeyCorp increased their price objective on Okta from $130.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Finally, Citigroup reiterated an "outperform" rating on shares of Okta in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.81.

Okta Trading Up 0.5%

NASDAQ:OKTA opened at $136.91 on Thursday. The firm has a 50-day moving average price of $127.17 and a two-hundred day moving average price of $96.94. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $157.00. The company has a market capitalization of $23.80 billion, a P/E ratio of 99.21, a price-to-earnings-growth ratio of 4.90 and a beta of 0.77.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company'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 predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company's stock, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the transaction, the chief financial officer directly owned 119,680 shares of the company's stock, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 174,224 shares of company stock worth $22,534,353 in the last quarter. 4.61% of the stock is currently 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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