Union Bancaire Privee UBP SA Boosts Stake in Okta, Inc. $OKTA

Union Bancaire Privee UBP SA grew its stake in Okta, Inc. (NASDAQ:OKTA) by 55.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,395 shares of the company’s stock after acquiring an additional 56,000 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Okta were worth $13,610,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OKTA. Steward Partners Investment Advisory LLC lifted its stake in shares of Okta by 5.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after purchasing an additional 113 shares during the last quarter. Allworth Financial LP raised its holdings in Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after purchasing an additional 135 shares in the last quarter. Choreo LLC lifted its position in shares of Okta by 2.0% during the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after buying an additional 140 shares during the last quarter. Raiffeisen Bank International AG lifted its position in shares of Okta by 3.9% during the third quarter. Raiffeisen Bank International AG now owns 4,369 shares of the company’s stock valued at $410,000 after buying an additional 166 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Okta by 0.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 37,804 shares of the company’s stock valued at $3,779,000 after buying an additional 171 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 3.0%

NASDAQ:OKTA opened at $80.76 on Friday. The company has a market capitalization of $14.29 billion, a P/E ratio of 61.65, a PEG ratio of 3.07 and a beta of 0.79. Okta, Inc. has a 12 month low of $68.77 and a 12 month high of $127.57. The firm has a fifty day simple moving average of $83.37 and a 200-day simple moving average of $86.60.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm 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 was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Okta announced that its board has authorized a share buyback program on Monday, January 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 1,899 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares in the company, valued at $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the sale, the insider directly owned 11,266 shares of the company’s stock, valued at $950,850.40. This trade represents a 17.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,393 shares of company stock valued at $2,664,446 over the last three months. Company insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Okta from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Canaccord Genuity Group lowered their target price on shares of Okta from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Oppenheimer reduced their price target on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. Finally, Morgan Stanley lowered their price objective on Okta from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Okta 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.