34,814 Shares in Okta, Inc. $OKTA Purchased by SEB Asset Management AB

SEB Asset Management AB acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 34,814 shares of the company’s stock, valued at approximately $2,740,000.

A number of other institutional investors have also recently bought and sold shares of the business. SHP Wealth Management acquired a new stake in shares of Okta in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new stake in shares of Okta in the fourth quarter valued at approximately $32,000. Spire Wealth Management grew its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Okta during the fourth quarter worth approximately $56,000. Finally, Assetmark Inc. increased its stake in Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after acquiring an additional 322 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $136.10 on Friday. The company’s 50 day moving average price is $123.08 and its two-hundred day moving average price is $95.65. The firm has a market capitalization of $23.66 billion, a P/E ratio of 98.62, a P/E/G ratio of 4.91 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $157.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period in the prior year, the business earned $0.86 earnings per share. The company’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 expect that Okta, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $212,500.00. Following 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 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 worth $22,534,353 over the last three months. 4.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Okta in a report on Friday, May 29th. BMO Capital Markets upped their target price on Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Mizuho downgraded Okta from an “outperform” rating to a “neutral” rating and raised their target price for the company from $110.00 to $125.00 in a report on Tuesday, June 2nd. Evercore began coverage on Okta in a research note on Monday, July 6th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company boosted their price target on Okta from $100.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.81.

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.