27,265 Shares in Okta, Inc. $OKTA Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,265 shares of the company’s stock, valued at approximately $2,077,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Okta by 0.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,459 shares of the company’s stock valued at $3,342,000 after buying an additional 304 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Okta by 1,901.1% during the 1st quarter. Fifth Third Bancorp now owns 47,245 shares of the company’s stock worth $3,719,000 after acquiring an additional 44,884 shares during the period. American Trust lifted its holdings in shares of Okta by 12.8% during the 1st quarter. American Trust now owns 2,865 shares of the company’s stock worth $226,000 after acquiring an additional 325 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Okta by 11.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,686 shares of the company’s stock worth $448,000 after acquiring an additional 600 shares in the last quarter. Finally, SkyOak Wealth LLC boosted its position in shares of Okta by 33.8% during the 1st quarter. SkyOak Wealth LLC now owns 5,150 shares of the company’s stock worth $405,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. HC Wainwright assumed coverage on Okta in a report on Monday, July 6th. They issued a “buy” rating on the stock. Cantor Fitzgerald lifted their price target on Okta from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, KeyCorp upped their price objective on Okta from $130.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.97.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the transaction, the chief executive officer directly owned 38,484 shares in the company, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. 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 quarter, insiders have sold 174,224 shares of company stock worth $22,534,353. Company insiders own 4.61% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $139.53 on Tuesday. The firm’s fifty day moving average price is $112.57 and its two-hundred day moving average price is $92.36. The stock has a market cap of $24.25 billion, a PE ratio of 101.11, a PEG ratio of 4.99 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $153.20.

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. 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 period in the prior year, the company earned $0.86 EPS. Okta’s revenue 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. As a group, sell-side analysts predict that Okta, Inc. will post 1.75 earnings per share for the current fiscal 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.