Rockefeller Capital Management L.P. Sells 32,883 Shares of Okta, Inc. $OKTA

Rockefeller Capital Management L.P. trimmed its position in Okta, Inc. (NASDAQ:OKTA) by 19.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,751 shares of the company’s stock after selling 32,883 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Okta were worth $11,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. First Trust Advisors LP boosted its position in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares during the period. Geode Capital Management LLC increased its position in shares of Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after acquiring an additional 57,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Okta by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after acquiring an additional 69,653 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Okta by 9.3% during the third quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock valued at $204,162,000 after acquiring an additional 189,036 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Okta by 113.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after acquiring an additional 1,099,962 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA opened at $118.58 on Thursday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The stock has a market capitalization of $20.61 billion, a P/E ratio of 85.93, a P/E/G ratio of 4.28 and a beta of 0.80. The company’s 50-day moving average is $95.70 and its 200 day moving average is $87.81.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Research analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current year.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham & Company raised its price target on Okta to $140 from $120 and reiterated a Buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a move that reinforces its role in identity and access management as enterprise AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Shareholders approved changes to Okta’s 2017 equity plan and backed the governance slate at the June 18 annual meeting, removing a potential overhang and suggesting strong shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains constructive overall, with Wells Fargo maintaining a Hold and consensus still sitting at Moderate Buy, which supports sentiment but is not a major surprise. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta is drawing heavy investor attention as a trending stock, which can lift trading activity but does not by itself change the business outlook. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insiders Eric Robert Kelleher and Larissa Schwartz sold shares in pre-arranged Rule 10b5-1 transactions; the sales were routine, but insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

Analysts Set New Price Targets

OKTA has been the topic of several recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $134.00 target price on shares of Okta in a research note on Friday, March 6th. Barclays upped their price target on Okta from $93.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. KeyCorp increased their price objective on Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Cantor Fitzgerald lifted their price objective on Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Stephens reduced their target price on Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $114.71.

Insider Transactions at Okta

In other news, Director David Schellhase bought 3,712 shares of the stock in a transaction dated Thursday, April 16th. The stock was bought at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director directly owned 3,712 shares in the company, valued at $267,412.48. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer owned 119,680 shares in the company, valued at $14,032,480. This represents a 35.20% 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. In the last three months, insiders have sold 114,074 shares of company stock worth $13,128,242. 4.61% of the stock is owned by insiders.

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.