Bourgeon Capital Management LLC Increases Stake in Okta, Inc. $OKTA

Bourgeon Capital Management LLC increased its stake in Okta, Inc. (NASDAQ:OKTA) by 67.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,780 shares of the company’s stock after purchasing an additional 58,130 shares during the period. Okta accounts for about 2.0% of Bourgeon Capital Management LLC’s portfolio, making the stock its 22nd largest position. Bourgeon Capital Management LLC’s holdings in Okta were worth $12,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Okta during the first quarter worth $225,000. NewEdge Advisors LLC raised its stake in Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after acquiring an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Okta in the 2nd quarter worth $244,000. Prudential Financial Inc. lifted its position in Okta by 229.1% during the 2nd quarter. Prudential Financial Inc. now owns 27,477 shares of the company’s stock worth $2,747,000 after acquiring an additional 19,127 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Okta by 5.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $78.71 on Wednesday. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The stock’s fifty day moving average is $81.15 and its two-hundred day moving average is $85.77. The firm has a market capitalization of $13.92 billion, a P/E ratio of 60.08, a PEG ratio of 2.95 and a beta of 0.79.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 1,899 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 16,818 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00. Following the completion of the sale, the insider owned 15,470 shares of the company’s stock, valued at $1,237,600. This trade represents a 52.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 69,365 shares of company stock worth $5,696,938. 5.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. DA Davidson reissued a “buy” rating and issued a $110.00 price objective on shares of Okta in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. Piper Sandler dropped their target price on Okta from $100.00 to $82.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. UBS Group cut their price target on shares of Okta from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, TD Cowen decreased their price objective on shares of Okta from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

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.