Stephens Investment Management Group LLC Purchases 6,192 Shares of Okta, Inc. $OKTA

Stephens Investment Management Group LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,827 shares of the company’s stock after purchasing an additional 6,192 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.25% of Okta worth $34,934,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. Spire Wealth Management grew its stake in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. Allworth Financial LP raised its stake in shares of Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after acquiring an additional 135 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Okta by 0.6% in the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after acquiring an additional 163 shares during the last quarter. Kestra Advisory Services LLC raised its stake in shares of Okta by 1.7% in the fourth quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company’s stock valued at $837,000 after acquiring an additional 166 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Okta by 3.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,745 shares of the company’s stock worth $497,000 after acquiring an additional 173 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

Shares of Okta stock opened at $141.42 on Friday. The firm has a 50 day simple moving average of $104.23 and a 200 day simple moving average of $90.01. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $145.95. The firm has a market cap of $24.58 billion, a P/E ratio of 102.48, a P/E/G ratio of 5.09 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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 expect that Okta, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BTIG Research increased their price target on Okta from $119.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price objective on Okta from $103.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Truist Financial boosted their price objective on Okta from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their target price on Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded Okta from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the transaction, the insider owned 23,477 shares in the company, valued at $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. The trade was a 35.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 111,665 shares of company stock valued at $12,935,522 over the last ninety days. Company insiders own 4.61% of the company’s stock.

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.