CenterBook Partners LP Has $2.20 Million Stock Position in Okta, Inc. $OKTA

CenterBook Partners LP lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,423 shares of the company’s stock after selling 9,854 shares during the quarter. CenterBook Partners LP’s holdings in Okta were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Okta during the fourth quarter valued at about $175,193,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Okta by 113.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after acquiring an additional 1,099,962 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Okta by 276.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after acquiring an additional 1,031,083 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after purchasing an additional 1,007,915 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. BTIG Research increased their price target on Okta from $105.00 to $119.00 and gave the company a “buy” rating in a report on Friday, May 29th. Weiss Ratings raised shares of Okta from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Susquehanna raised their target price on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wells Fargo & Company lifted their target price on shares of Okta from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, TD Cowen cut their target price on shares of Okta from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.14.

Okta Trading Up 2.7%

Shares of Okta stock opened at $119.96 on Wednesday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The company’s fifty day simple moving average is $86.52 and its 200-day simple moving average is $85.05. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 86.93, a PEG ratio of 4.23 and a beta of 0.80.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior 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. As a group, research analysts forecast that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total transaction of $192,720.00. Following the sale, the insider directly owned 15,470 shares of the company’s stock, valued at $1,237,600. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the transaction, the executive directly owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. This trade represents a 84.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 94,019 shares of company stock valued at $8,828,330 in the last quarter. 4.61% of the stock is currently owned by insiders.

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.