S&CO Inc. Buys New Holdings in Okta, Inc. $OKTA

S&CO Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 19,699 shares of the company’s stock, valued at approximately $2,687,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Okta in the fourth quarter valued at approximately $175,193,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after acquiring an additional 1,326,051 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Okta by 276.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after acquiring an additional 1,031,083 shares during the period. Finally, Swedbank AB raised its stake in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after acquiring an additional 1,007,915 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

OKTA opened at $147.43 on Friday. The business has a fifty day simple moving average of $136.05 and a 200 day simple moving average of $101.57. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00. The company has a market capitalization of $25.62 billion, a PE ratio of 106.83, a price-to-earnings-growth ratio of 5.30 and a beta of 0.77.

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

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research analyst reports. Sanford C. Bernstein cut shares of Okta from an “outperform” rating to a “hold” rating in a research report on Monday, July 6th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research report on Friday, May 29th. Susquehanna raised their target price on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Capital One Financial set a $171.00 target price on shares of Okta and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Mizuho lowered shares of Okta from an “outperform” rating to a “neutral” rating and upped their price target for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.51.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the transaction, 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 transaction was disclosed in a legal 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 Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This trade represents a 16.86% 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 sold a total of 167,847 shares of company stock valued at $22,039,842 in the last three months. Insiders own 4.61% of the company’s stock.

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.