Union Bancaire Privee UBP SA Buys 56,000 Shares of Okta, Inc. $OKTA

Union Bancaire Privee UBP SA raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,395 shares of the company’s stock after purchasing an additional 56,000 shares during the period. Union Bancaire Privee UBP SA owned 0.09% of Okta worth $13,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Okta during the 2nd quarter valued at $211,923,000. Vanguard Group Inc. increased its position in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Okta by 276.9% in the third 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. Bain Capital Public Equity Management II LLC bought a new stake in shares of Okta in the 2nd quarter worth about $73,866,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Okta by 816.2% in the 3rd quarter. Victory Capital Management Inc. now owns 641,382 shares of the company’s stock worth $58,815,000 after acquiring an additional 571,381 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on OKTA. JPMorgan Chase & Co. upped their price target on shares of Okta from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Citigroup dropped their target price on Okta from $100.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, March 5th. Cantor Fitzgerald cut their target price on Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Stifel Nicolaus reduced their price target on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, Needham & Company LLC decreased their price target on Okta from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.25.

Okta Stock Performance

Okta stock opened at $80.76 on Friday. The company has a market capitalization of $14.29 billion, a PE ratio of 61.65, a P/E/G ratio of 3.07 and a beta of 0.79. The company has a 50 day moving average price of $83.37 and a 200-day moving average price of $86.60. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. 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, analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has initiated a share buyback plan on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 1,899 shares of Okta stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider owned 38,164 shares of the company’s stock, valued at $3,463,001.36. The trade was a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,393 shares of company stock worth $2,664,446 over the last quarter. 5.68% of the stock is owned by corporate 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.