Okta, Inc. $OKTA Stock Acquired by Trillium Asset Management LLC

Trillium Asset Management LLC lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 70.0% during the third quarter, Holdings Channel reports. The institutional investor owned 78,420 shares of the company’s stock after purchasing an additional 32,292 shares during the quarter. Trillium Asset Management LLC’s holdings in Okta were worth $16,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aberdeen Group plc raised its position in Okta by 585.3% in the third quarter. Aberdeen Group plc now owns 822,864 shares of the company’s stock worth $172,069,000 after acquiring an additional 702,785 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Okta by 114.3% in the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after acquiring an additional 397,951 shares during the period. Junto Capital Management LP purchased a new stake in shares of Okta during the 2nd quarter worth $45,486,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Okta by 192.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock worth $101,879,000 after purchasing an additional 320,849 shares in the last quarter. Finally, Senvest Management LLC boosted its position in shares of Okta by 54.5% during the 1st quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock worth $65,370,000 after purchasing an additional 292,900 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% decrease in their position. 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 ninety days, insiders have sold 137,766 shares of company stock worth $23,927,112. Corporate insiders own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. KeyCorp set a $240.00 price target on shares of Okta and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Needham & Company LLC raised their price objective on shares of Okta from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Mizuho boosted their price objective on shares of Okta from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, September 24th. Citizens Jmp boosted their price objective on shares of Okta from $180.00 to $225.00 and gave the stock a “market outperform” rating in a report on Monday, September 28th. Finally, Robert W. Baird upped their target price on shares of Okta from $200.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Trading Up 0.2%

Shares of NASDAQ OKTA traded up $0.33 during trading on Friday, reaching $182.87. The company had a trading volume of 2,426,498 shares, compared to its average volume of 5,137,857. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $235.00. The stock has a market capitalization of $31.97 billion, a PE ratio of 110.16, a price-to-earnings-growth ratio of 5.68 and a beta of 0.74. The stock has a 50-day moving average price of $198.10 and a two-hundred day moving average price of $129.17.

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

Okta 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.