27,265 Shares in Okta, Inc. $OKTA Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 27,265 shares of the company’s stock, valued at approximately $2,077,000.

A number of other institutional investors have also recently made changes to their positions in OKTA. Integrated Wealth Concepts LLC acquired a new stake in Okta during the 1st quarter valued at approximately $225,000. NewEdge Advisors LLC lifted its position in shares of Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after purchasing an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Okta in the 2nd quarter worth approximately $244,000. Invesco Ltd. boosted its stake in shares of Okta by 34.1% in the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKTA. Evercore assumed coverage on shares of Okta in a research report on Monday, July 6th. They set an “outperform” rating for the company. UBS Group boosted their target price on shares of Okta from $115.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. upped their price target on shares of Okta from $103.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. HSBC downgraded Okta from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.97.

Okta Trading Up 0.6%

OKTA opened at $139.53 on Tuesday. The company has a fifty day moving average price of $112.57 and a two-hundred day moving average price of $92.36. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $153.20. The company has a market cap of $24.25 billion, a P/E ratio of 101.11, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, research analysts forecast that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 68,936 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the completion of the sale, the chief executive officer owned 38,484 shares in the company, valued at $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares in the company, valued at $3,148,970.01. The trade was a 51.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock worth $22,534,353 in the last quarter. Company insiders own 4.61% of the company’s stock.

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.