Robertson Stephens Wealth Management LLC Purchases New Shares in Okta, Inc. $OKTA

Robertson Stephens Wealth Management LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,084 shares of the company’s stock, valued at approximately $613,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Danske Bank A S grew its stake in Okta by 6.0% in the 4th quarter. Danske Bank A S now owns 78,130 shares of the company’s stock valued at $6,756,000 after acquiring an additional 4,400 shares during the period. Oppenheimer & Co. Inc. grew its stake in Okta by 87.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,354 shares of the company’s stock valued at $982,000 after acquiring an additional 5,282 shares during the period. New York State Teachers Retirement System grew its stake in Okta by 3.6% in the 4th quarter. New York State Teachers Retirement System now owns 125,541 shares of the company’s stock valued at $10,856,000 after acquiring an additional 4,310 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Okta by 0.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 58,974 shares of the company’s stock valued at $5,099,000 after acquiring an additional 517 shares during the period. Finally, US Bancorp DE grew its stake in Okta by 20.8% in the 4th quarter. US Bancorp DE now owns 671,653 shares of the company’s stock valued at $58,078,000 after acquiring an additional 115,665 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Okta stock opened at $75.78 on Monday. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $127.57. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 2.95 and a beta of 0.59. The company has a fifty day simple moving average of $75.64 and a 200-day simple moving average of $83.05.

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

Okta declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OKTA shares. Mizuho dropped their price target on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. BMO Capital Markets raised shares of Okta from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $83.00 to $97.00 in a research note on Friday, March 6th. Royal Bank Of Canada lifted their price target on shares of Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Canaccord Genuity Group lowered their target price on shares of Okta from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, UBS Group set a $85.00 target price on shares of Okta in a report on Thursday, April 16th. Twenty-nine equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.95.

Insider Activity

In other news, CEO Todd Mckinnon sold 11,263 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer owned 97,083 shares of the company’s stock, valued at approximately $7,864,693.83. The trade was a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 16,818 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the transaction, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. The trade was a 52.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 63,843 shares of company stock worth $5,071,889. Insiders own 5.68% of the company’s stock.

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.