Stephens Inc. AR Has $1.91 Million Position in Okta, Inc. $OKTA

Key Points

• Stephens Inc. AR sharply increased its Okta stake in the first quarter, boosting holdings by 334.3% to 24,243 shares worth about $1.91 million.
• Okta reported strong quarterly results, with EPS of $0.91 beating estimates and revenue rising 11.2% year over year to $765 million, while also issuing FY 2027 and Q2 2027 guidance.
• Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and a target price of $117.69, even as there was recent insider selling by CFO Brett Tighe.

Stephens Inc. AR lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 334.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,243 shares of the company's stock after purchasing an additional 18,661 shares during the quarter. Stephens Inc. AR's holdings in Okta were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management boosted its position in Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after buying an additional 119 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Okta by 6.4% during the third quarter. Allworth Financial LP now owns 2,251 shares of the company's stock worth $206,000 after buying an additional 135 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Okta by 0.6% during the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company's stock worth $2,473,000 after buying an additional 163 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Okta by 1.7% in the 4th quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company's stock valued at $837,000 after acquiring an additional 166 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Okta by 3.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,745 shares of the company's stock valued at $497,000 after acquiring an additional 173 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Up 1.4%

Shares of OKTA opened at $148.84 on Friday. The company has a market capitalization of $25.87 billion, a PE ratio of 107.86, a PEG ratio of 5.28 and a beta of 0.77. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $153.20. The stock's 50-day moving average price is $110.00 and its two-hundred day moving average price is $91.67.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKTA. HC Wainwright started coverage on Okta in a research report on Monday. They set a "buy" rating on the stock. Morgan Stanley assumed coverage on Okta in a research report on Monday. They issued a "neutral" rating for the company. DA Davidson lifted their price target on Okta from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Sanford C. Bernstein cut Okta from an "outperform" rating to a "hold" rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Okta from $103.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $117.69.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 65,000 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares of the company's stock, valued at approximately $14,032,480. This represents a 35.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The stock was purchased at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the purchase, the director owned 3,712 shares in the company, valued at approximately $267,412.48. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,288 shares of company stock valued at $12,426,956 over the last three months. 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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