Rockefeller Capital Management L.P. Sells 32,883 Shares of Okta, Inc. $OKTA

Key Points

• Rockefeller Capital Management reduced its Okta stake by 19.3% in the fourth quarter, selling 32,883 shares and leaving it with 137,751 shares valued at about $11.9 million.
• Okta reported strong quarterly results, with EPS of $0.91 beating estimates and revenue of $765 million topping expectations, while revenue rose 11.2% year over year.
• Analysts remain generally constructive on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with an average target price of $114.71, even as some insider selling has continued.

Rockefeller Capital Management L.P. lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,751 shares of the company's stock after selling 32,883 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.08% of Okta worth $11,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OKTA. Integrated Wealth Concepts LLC purchased a new position in shares of Okta during the first quarter worth about $225,000. NewEdge Advisors LLC raised its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company's stock valued at $582,000 after purchasing an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Okta during the second quarter valued at approximately $244,000. Invesco Ltd. lifted its position in Okta by 34.1% during the second quarter. Invesco Ltd. now owns 430,844 shares of the company's stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company's stock worth $162,000 after buying an additional 893 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

OKTA stock opened at $118.58 on Thursday. The company has a market capitalization of $20.61 billion, a PE ratio of 85.93, a price-to-earnings-growth ratio of 4.28 and a beta of 0.80. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The company's 50 day moving average price is $95.70 and its two-hundred day moving average price is $87.81.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same period in the previous year, the business posted $0.86 EPS. The business's quarterly revenue was up 11.2% on a year-over-year basis. 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, research analysts predict that Okta, Inc. will post 1.74 EPS for the current year.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham & Company raised its price target on Okta to $140 from $120 and reiterated a Buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a move that reinforces its role in identity and access management as enterprise AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Shareholders approved changes to Okta’s 2017 equity plan and backed the governance slate at the June 18 annual meeting, removing a potential overhang and suggesting strong shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains constructive overall, with Wells Fargo maintaining a Hold and consensus still sitting at Moderate Buy, which supports sentiment but is not a major surprise. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta is drawing heavy investor attention as a trending stock, which can lift trading activity but does not by itself change the business outlook. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insiders Eric Robert Kelleher and Larissa Schwartz sold shares in pre-arranged Rule 10b5-1 transactions; the sales were routine, but insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on shares of Okta from $108.00 to $122.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Morgan Stanley lifted their price objective on shares of Okta from $101.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Truist Financial upped their target price on shares of Okta from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Scotiabank increased their target price on Okta from $80.00 to $105.00 and gave the company a "sector perform" rating in a research note on Friday, May 29th. Finally, Arete Research set a $127.00 price target on Okta and gave the company a "buy" rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.71.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 3,977 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at approximately $781,320. This represents a 21.38% decrease in their position. 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. Insiders have sold 114,074 shares of company stock worth $13,128,242 over the last 90 days. Insiders own 4.61% of the company's stock.

Okta 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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