Inscription Capital LLC Sells 11,135 Shares of Okta, Inc. $OKTA

Inscription Capital LLC decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 77.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,257 shares of the company’s stock after selling 11,135 shares during the quarter. Inscription Capital LLC’s holdings in Okta were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC bought a new stake in Okta in the first quarter valued at approximately $225,000. NewEdge Advisors LLC raised its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after buying an additional 4,950 shares during the period. Sivia Capital Partners LLC bought a new stake in Okta in the second quarter valued at approximately $244,000. Invesco Ltd. raised its stake in Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after buying an additional 109,614 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Okta by 122.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after buying an additional 893 shares during the period. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Okta from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings raised Okta from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. TD Cowen decreased their target price on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday, February 24th. Wells Fargo & Company started coverage on Okta in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 target price on the stock. Finally, Barclays raised Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $85.00 to $90.00 in a research report on Monday, April 20th. Twenty-nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.95.

Insider Buying and Selling at Okta

In related news, Director David Schellhase purchased 3,712 shares of Okta stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the transaction, the director directly owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 6,377 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total value of $508,565.75. Following the sale, the insider directly owned 54,825 shares in the company, valued at $4,372,293.75. This represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 63,843 shares of company stock valued at $5,071,889 over the last ninety days. 5.68% of the stock is owned by corporate insiders.

Okta Trading Down 0.1%

Okta stock opened at $76.16 on Thursday. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $127.57. The stock’s 50 day moving average is $75.81 and its 200-day moving average is $83.21. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.97 and a beta of 0.76.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, equities research analysts predict that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.

Okta announced that its Board of Directors has initiated a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Okta Company 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.