Okta, Inc. $OKTA Shares Sold by Y.D. More Investments Ltd
by Amy Steele · The Cerbat GemY.D. More Investments Ltd decreased its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,890 shares of the company’s stock after selling 14,954 shares during the quarter. Y.D. More Investments Ltd’s holdings in Okta were worth $1,374,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in Okta during the 3rd quarter worth approximately $26,000. Elevation Wealth Partners LLC grew its stake in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of Okta during the second quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Okta during the third quarter worth $34,000. Finally, Westside Investment Management Inc. raised its stake in shares of Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on OKTA shares. Scotiabank lowered their target price on Okta from $85.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, March 5th. JPMorgan Chase & Co. increased their price target on Okta from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $134.00 price objective on shares of Okta in a research note on Friday, March 6th. Stephens lowered their price objective on Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Finally, Citigroup cut their target price on shares of Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.
Read Our Latest Research Report on Okta
Insider Buying and Selling
In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan James Addison sold 23,304 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the sale, the executive owned 4,364 shares of the company’s stock, valued at $339,475.56. This represents a 84.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 69,365 shares of company stock valued at $5,686,338 over the last three months. 5.68% of the stock is currently owned by insiders.
Okta Price Performance
Okta stock opened at $80.19 on Monday. The stock has a market cap of $14.18 billion, a PE ratio of 61.21, a P/E/G ratio of 3.14 and a beta of 0.76. The stock’s fifty day moving average is $80.52 and its two-hundred day moving average is $85.55. Okta, Inc. has a 1-year low of $68.77 and a 1-year high of $127.57.
Okta (NASDAQ:OKTA – Get Free Report) last released 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. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. During the same period in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. 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, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.
Okta declared that its Board of Directors has initiated a stock repurchase program on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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.