Stephens Inc. AR Has $1.91 Million Stock Holdings in Okta, Inc. $OKTA

Stephens Inc. AR lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 334.3% during the 1st quarter, Holdings Channel reports. The firm owned 24,243 shares of the company’s stock after purchasing an additional 18,661 shares during the quarter. Stephens Inc. AR’s holdings in Okta were worth $1,908,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC lifted its stake in Okta by 1.4% in the first quarter. Stephens Investment Management Group LLC now owns 443,827 shares of the company’s stock valued at $34,934,000 after buying an additional 6,192 shares during the period. Praxis Investment Management Inc. increased its stake in shares of Okta by 43.8% in the 1st quarter. Praxis Investment Management Inc. now owns 5,102 shares of the company’s stock valued at $402,000 after acquiring an additional 1,553 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Okta by 1.0% in the 1st quarter. Private Advisor Group LLC now owns 25,979 shares of the company’s stock valued at $2,045,000 after acquiring an additional 249 shares in the last quarter. Optas LLC acquired a new position in shares of Okta during the 1st quarter valued at $231,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Okta by 97.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 79,750 shares of the company’s stock valued at $6,277,000 after acquiring an additional 39,350 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $148.84 on Friday. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 107.86, a PEG ratio of 5.28 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $153.20. The firm’s 50-day simple moving average is $110.00 and its 200 day simple moving average is $91.67.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, sell-side analysts predict that Okta, Inc. will post 1.75 EPS for the current year.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares in the company, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the acquisition, the director directly owned 3,712 shares in the company, valued at approximately $267,412.48. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,288 shares of company stock valued at $12,426,956 over the last 90 days. Corporate insiders own 4.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OKTA. Zacks Research cut shares of Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Susquehanna upped their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Scotiabank raised shares of Okta from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $135.00 to $165.00 in a research report on Monday. Mizuho downgraded Okta from an “outperform” rating to a “neutral” rating and raised their target price for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group raised Okta from a “buy” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.69.

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.