Corient Private Wealth LLC Buys 6,732 Shares of Okta, Inc. $OKTA

Corient Private Wealth LLC increased its position in Okta, Inc. (NASDAQ:OKTA) by 60.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,914 shares of the company’s stock after acquiring an additional 6,732 shares during the quarter. Corient Private Wealth LLC’s holdings in Okta were worth $1,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKTA. Norges Bank bought a new position in shares of Okta in the fourth quarter worth approximately $175,193,000. First Trust Advisors LP lifted its stake in shares of Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after buying an additional 1,099,962 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Okta by 276.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after buying an additional 1,031,083 shares during the period. Finally, Swedbank AB increased its stake 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 buying an additional 1,007,915 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 3.9%

Okta stock opened at $136.45 on Wednesday. The company’s 50-day moving average price is $100.41 and its 200-day moving average price is $88.94. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $142.35. The company has a market cap of $23.72 billion, a PE ratio of 98.88, a price-to-earnings-growth ratio of 4.72 and a beta of 0.80.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS 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 firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last 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, sell-side analysts expect that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on OKTA shares. The Goldman Sachs Group reissued a “buy” rating and set a $126.00 price target on shares of Okta in a report on Friday, May 29th. BTIG Research increased their target price on Okta from $119.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Truist Financial upped their price target on Okta from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the transaction, the insider directly owned 25,241 shares in the company, valued at approximately $3,028,920. This represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 111,665 shares of company stock valued at $12,935,522. Corporate insiders own 4.61% of the company’s stock.

About Okta

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.