Prospera Financial Services Inc Sells 7,887 Shares of Okta, Inc. $OKTA

Prospera Financial Services Inc decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,966 shares of the company’s stock after selling 7,887 shares during the quarter. Prospera Financial Services Inc’s holdings in Okta were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Okta during the 3rd quarter worth approximately $26,000. Elevation Wealth Partners LLC raised its holdings in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the last quarter. Torren Management LLC bought a new position in Okta during the 4th quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new position in Okta during the 3rd quarter worth approximately $34,000. Finally, Westside Investment Management Inc. raised its holdings in Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Trading Up 5.8%

Shares of OKTA stock opened at $94.72 on Friday. The firm has a market capitalization of $16.76 billion, a PE ratio of 72.31, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. The firm has a fifty day simple moving average of $79.01 and a two-hundred day simple moving average of $82.69. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $107.84.

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 business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. Okta’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 analysts predict that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $134.00 price target on shares of Okta in a report on Friday, March 6th. Weiss Ratings lowered shares of Okta from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Canaccord Genuity Group lowered their price objective on shares of Okta from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Arete Research set a $127.00 price objective on shares of Okta and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup upgraded shares of Okta from a “negative” rating to a “positive” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Transactions at Okta

In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares in the company, valued at approximately $781,320. This trade represents a 21.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total transaction of $192,720.00. Following the completion of the sale, the insider owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This trade represents a 13.47% 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. Over the last 90 days, insiders have sold 70,884 shares of company stock worth $5,625,648. 4.61% of the stock is owned by insiders.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

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.