Natixis Advisors LLC Has $2.60 Million Stock Position in Okta, Inc. $OKTA

Natixis Advisors LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 37.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,045 shares of the company’s stock after acquiring an additional 8,184 shares during the period. Natixis Advisors LLC’s holdings in Okta were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares during the last quarter. Geode Capital Management LLC grew its holdings in Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after buying an additional 57,605 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Okta by 9.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock valued at $204,162,000 after buying an additional 189,036 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after buying an additional 1,099,962 shares during the last quarter. Finally, Norges Bank acquired a new stake in Okta in the 4th quarter valued at approximately $175,193,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Okta stock opened at $119.96 on Wednesday. The company has a market capitalization of $20.85 billion, a PE ratio of 86.93, a price-to-earnings-growth ratio of 4.23 and a beta of 0.80. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The business has a 50 day simple moving average of $86.52 and a 200 day simple moving average of $85.05.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.Okta’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company 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. Equities analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, April 16th. HSBC upgraded Okta to a “buy” rating in a research report on Thursday, April 16th. TD Cowen reduced their price objective on Okta from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. Barclays raised their price objective on Okta from $93.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Piper Sandler raised their price objective on Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.14.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the transaction, the executive owned 4,364 shares in the company, valued at $339,475.56. This trade represents a 84.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 11,263 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total value of $912,415.63. Following the transaction, the chief executive officer owned 97,083 shares of the company’s stock, valued at $7,864,693.83. This trade represents a 10.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 94,019 shares of company stock worth $8,828,330 over the last three months. 4.61% of the stock is currently owned by insiders.

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.