Public Employees Retirement System of Ohio Lowers Stock Position in Okta, Inc. $OKTA

Public Employees Retirement System of Ohio trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.7% during the first quarter, HoldingsChannel.com reports. The fund owned 96,882 shares of the company’s stock after selling 9,261 shares during the period. Public Employees Retirement System of Ohio’s holdings in Okta were worth $7,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth $27,000. Torren Management LLC purchased a new position in Okta during the 4th quarter worth $32,000. Spire Wealth Management increased its stake in Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. V Square Quantitative Management LLC acquired a new position in Okta in the fourth quarter valued at $56,000. Finally, EFG International AG purchased a new stake in shares of Okta in the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research reports. Scotiabank raised Okta from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $135.00 to $165.00 in a report on Monday, July 6th. Seaport Research Partners downgraded Okta to a “neutral” rating in a research note on Thursday, April 16th. DA Davidson increased their price objective on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. HSBC downgraded Okta from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Arete Research set a $127.00 target price on Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.81.

Okta Stock Performance

NASDAQ:OKTA opened at $137.43 on Tuesday. The stock has a fifty day moving average price of $125.20 and a two-hundred day moving average price of $96.34. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of 99.59, a PEG ratio of 4.98 and a beta of 0.77. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue was up 11.2% on a year-over-year basis. 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, analysts predict that Okta, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the sale, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares in the company, valued at approximately $5,642,524.08. This represents a 64.17% 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. Over the last three months, insiders have sold 174,224 shares of company stock valued at $22,534,353. 4.61% of the stock is owned by company insiders.

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.