Stableford Capital II LLC Purchases New Shares in Okta, Inc. $OKTA

Key Points

• Stableford Capital II LLC purchased 9,025 Okta shares during the second quarter, valued at approximately $1.23 million. Institutional investors collectively own 86.64% of the company.
• Analysts maintain a generally positive view of Okta, with a “Moderate Buy” consensus rating and an average price target of $121.81, despite the stock recently trading at $141.57.
• Okta exceeded quarterly expectations, reporting $0.91 in EPS and $765 million in revenue, up 11.2% year over year. Meanwhile, insiders sold $22.5 million of stock during the latest quarter under pre-arranged trading plans.

Stableford Capital II LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,025 shares of the company's stock, valued at approximately $1,231,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Okta in the first quarter worth approximately $225,000. NewEdge Advisors LLC lifted its position in shares of Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company's stock valued at $582,000 after acquiring an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Okta in the 2nd quarter worth approximately $244,000. Invesco Ltd. grew its position in Okta by 34.1% during the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company's stock worth $43,071,000 after purchasing an additional 109,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Okta by 122.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company's stock worth $162,000 after purchasing an additional 893 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,463 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the transaction, the insider owned 25,241 shares in the company, valued at approximately $3,028,920. This represents a 8.89% 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, Director Shellye L. Archambeau sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the transaction, the director directly owned 9,192 shares in the company, valued at approximately $781,320. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock worth $22,534,353 over the last quarter. Insiders own 4.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OKTA shares. Royal Bank Of Canada increased their target price on Okta from $108.00 to $122.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Barclays lifted their price target on Okta from $93.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price target on Okta from $103.00 to $114.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Evercore assumed coverage on Okta in a research note on Monday, July 6th. They issued an "outperform" rating for the company. Finally, Wedbush restated an "outperform" rating and set a $60.00 price objective 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 given 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, Okta presently has an average rating of "Moderate Buy" and an average price target of $121.81.

Okta Trading Down 0.3%

NASDAQ OKTA opened at $141.57 on Tuesday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $157.00. The company has a market capitalization of $24.61 billion, a PE ratio of 102.59, a price-to-earnings-growth ratio of 5.10 and a beta of 0.77. The firm's fifty day simple moving average is $130.17 and its 200-day simple moving average is $97.96.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm had revenue of $765.00 million during the quarter, compared to analysts' expectations of $751.84 million. During the same quarter last year, the firm earned $0.86 earnings per share. The business's revenue for the quarter 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. As a group, analysts predict that Okta, Inc. will post 1.75 EPS for the current year.

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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