E. Ohman J or Asset Management AB Sells 18,300 Shares of Okta, Inc. $OKTA

E. Ohman J or Asset Management AB lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,856 shares of the company’s stock after selling 18,300 shares during the period. E. Ohman J or Asset Management AB’s holdings in Okta were worth $26,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its stake in shares of Okta by 15.6% in the third quarter. SBI Securities Co. Ltd. now owns 7,736 shares of the company’s stock valued at $1,618,000 after purchasing an additional 1,045 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Okta in the third quarter valued at $32,947,000. Axxcess Wealth Management LLC acquired a new stake in shares of Okta in the third quarter valued at $240,000. Crossmark Global Holdings Inc. increased its holdings in Okta by 51.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,857 shares of the company’s stock worth $3,316,000 after purchasing an additional 5,402 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Okta by 168.2% in the third quarter. Quadrant Capital Group LLC now owns 5,576 shares of the company’s stock worth $1,263,000 after acquiring an additional 3,497 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of Okta from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Roth Capital increased their target price on shares of Okta from $155.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. New Street Research set a $235.00 price objective on Okta in a research report on Thursday, September 24th. The Goldman Sachs Group boosted their target price on Okta from $126.00 to $203.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Canaccord Genuity Group raised their target price on shares of Okta from $115.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

Okta Stock Down 3.5%

Shares of OKTA opened at $201.33 on Friday. The company’s fifty day moving average is $184.16 and its two-hundred day moving average is $137.74. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $235.00. The firm has a market cap of $35.20 billion, a PE ratio of 121.28, a price-to-earnings-growth ratio of 6.49 and a beta of 0.73.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts anticipate that Okta, Inc. will post 1.92 earnings per share for the current year.

Insider Activity

In other news, CEO Todd McKinnon sold 48,822 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This trade represents a 52.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the sale, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. This trade represents a 84.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 137,766 shares of company stock worth $23,927,112. Corporate insiders own 4.61% of the company’s stock.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.