Capital World Investors Sells 5,607 Shares of Okta, Inc. $OKTA

Capital World Investors lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 500,000 shares of the company’s stock after selling 5,607 shares during the quarter. Capital World Investors owned about 0.28% of Okta worth $43,235,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Elevation Wealth Partners LLC boosted its position in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the last quarter. Torren Management LLC bought a new stake in shares of Okta during the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Okta during the 3rd quarter valued at about $34,000. Spire Wealth Management lifted its position in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in Okta in the 4th quarter worth approximately $52,000. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $119.96 on Wednesday. The business’s 50 day simple moving average is $86.52 and its two-hundred day simple moving average is $85.05. The stock has a market capitalization of $20.85 billion, a P/E ratio of 86.93, a price-to-earnings-growth ratio of 4.23 and a beta of 0.80. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts expect that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the transaction, the executive directly owned 4,364 shares of the company’s stock, valued at $339,475.56. The trade was a 84.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Schellhase purchased 3,712 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was bought 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 directly owned 3,712 shares in the company, valued at approximately $267,412.48. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 94,019 shares of company stock worth $8,828,330. 4.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OKTA. Canaccord Genuity Group boosted their target price on Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Royal Bank Of Canada boosted their target price on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of Okta in a research report on Friday, May 29th. Mizuho downgraded Okta from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, June 2nd. Finally, DA Davidson boosted their target price on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.14.

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.