20,236 Shares in Okta, Inc. $OKTA Purchased by Avory & Company LLC

Avory & Company LLC bought a new position in Okta, Inc. (NASDAQ:OKTA) during the first quarter, Holdings Channel.com reports. The institutional investor bought 20,236 shares of the company’s stock, valued at approximately $1,593,000. Okta comprises about 2.1% of Avory & Company LLC’s holdings, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Stephens Inc. AR grew its position in Okta by 334.3% in the first quarter. Stephens Inc. AR now owns 24,243 shares of the company’s stock worth $1,908,000 after acquiring an additional 18,661 shares in the last quarter. Stephens Investment Management Group LLC raised its position in Okta by 1.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 443,827 shares of the company’s stock worth $34,934,000 after purchasing an additional 6,192 shares during the period. Praxis Investment Management Inc. lifted its stake in Okta by 43.8% in the first quarter. Praxis Investment Management Inc. now owns 5,102 shares of the company’s stock worth $402,000 after purchasing an additional 1,553 shares during the last quarter. Private Advisor Group LLC lifted its stake in Okta by 1.0% in the first quarter. Private Advisor Group LLC now owns 25,979 shares of the company’s stock worth $2,045,000 after purchasing an additional 249 shares during the last quarter. Finally, Optas LLC purchased a new stake in Okta during the first quarter valued at about $231,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider directly owned 25,241 shares of the company’s stock, valued at $3,028,920. This trade represents a 8.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the sale, the director directly owned 9,192 shares in the company, valued at $781,320. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 105,288 shares of company stock worth $12,426,956. 4.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OKTA. Needham & Company LLC lifted their price objective on Okta from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Susquehanna raised their price target on Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. UBS Group lifted their price target on Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Morgan Stanley started coverage on Okta in a research report on Monday. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group upgraded shares of Okta from a “buy” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.69.

Okta Stock Performance

Okta stock opened at $148.60 on Tuesday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $148.85. The stock’s 50 day simple moving average is $105.68 and its two-hundred day simple moving average is $90.43. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 107.68, a PEG ratio of 5.09 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its 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. 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 last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts predict that Okta, Inc. will post 1.75 earnings per share for the current year.

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.