Okta, Inc. $OKTA Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 42.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,418 shares of the company’s stock after selling 4,777 shares during the period. ABN Amro Investment Solutions’ holdings in Okta were worth $505,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Spire Wealth Management raised its stake in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. SteelPeak Wealth LLC grew its stake in shares of Okta by 2.8% in the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after buying an additional 140 shares in the last quarter. Utah Retirement Systems grew its stake in shares of Okta by 0.6% in the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after buying an additional 163 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Okta by 1.7% in the 4th quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company’s stock valued at $837,000 after buying an additional 166 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Okta by 3.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,745 shares of the company’s stock valued at $497,000 after buying an additional 173 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

NASDAQ OKTA opened at $138.50 on Monday. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $157.00. The stock has a market capitalization of $24.07 billion, a PE ratio of 100.36, a price-to-earnings-growth ratio of 4.98 and a beta of 0.77. The firm has a 50 day moving average of $124.19 and a two-hundred day moving average of $96.01.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data 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 business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business 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. On average, equities research analysts expect that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research analyst reports. Scotiabank upgraded Okta from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $135.00 to $165.00 in a report on Monday, July 6th. Jefferies Financial Group raised shares of Okta from a “buy” rating to a “buy” rating in a research report on Monday, July 6th. Truist Financial raised their price objective on shares of Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Sanford C. Bernstein cut shares of Okta from an “outperform” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Okta from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of Okta stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider directly owned 23,477 shares of the company’s stock, valued at $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,224 shares of company stock valued at $22,534,353 over the last ninety days. Company insiders own 4.61% of the company’s stock.

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.