Okta, Inc. $OKTA Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,698 shares of the company’s stock after purchasing an additional 2,997 shares during the quarter. Kestra Advisory Services LLC’s holdings in Okta were worth $3,073,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Platform Technology Partners bought a new position in Okta during the 3rd quarter worth $237,000. Rakuten Investment Management Inc. bought a new stake in shares of Okta in the third quarter valued at about $2,213,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of Okta in the third quarter valued at about $2,091,000. IPG Investment Advisors LLC acquired a new position in shares of Okta in the third quarter valued at about $362,000. Finally, Providence Wealth Advisors LLC bought a new position in Okta during the third quarter worth about $286,000. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 41,251 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the sale, the chief financial officer owned 7,693 shares in the company, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the transaction, the chief executive officer directly owned 44,029 shares in the company, valued at $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 137,766 shares of company stock valued at $23,927,112. Company insiders own 4.61% of the company’s stock.

Okta Price Performance

OKTA traded up $0.33 on Friday, hitting $182.87. 2,426,498 shares of the stock were exchanged, compared to its average volume of 5,137,857. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $235.00. The business has a 50-day moving average of $198.10 and a two-hundred day moving average of $129.17. The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 110.16, a PEG ratio of 5.68 and a beta of 0.74.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities research analysts expect that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. DA Davidson raised their target price on shares of Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Cantor Fitzgerald raised their target price on shares of Okta from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. TD Cowen lifted their price target on shares of Okta from $175.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, September 24th. Finally, Stifel Nicolaus boosted their price target on Okta from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Company Profile

Okta, Inc. provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources. Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.