Sellaronda Global Management LP Has $13.38 Million Stake in Okta, Inc. $OKTA

Sellaronda Global Management LP trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,000 shares of the company’s stock after selling 15,000 shares during the quarter. Okta accounts for 8.8% of Sellaronda Global Management LP’s portfolio, making the stock its 7th largest position. Sellaronda Global Management LP’s holdings in Okta were worth $13,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth $27,000. Torren Management LLC acquired a new stake in Okta during the 4th quarter worth approximately $32,000. Spire Wealth Management lifted 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 buying an additional 119 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Okta in the fourth quarter valued at approximately $56,000. Finally, Assetmark Inc. boosted its holdings in shares of Okta by 81.1% in the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup restated an “outperform” rating on shares of Okta in a report on Friday, May 29th. Evercore assumed coverage on Okta in a research report on Monday, July 6th. They issued an “outperform” rating on the stock. BMO Capital Markets boosted their target price on Okta from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. upped their price target on Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group raised shares of Okta from a “buy” rating to a “buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

Okta Price Performance

Shares of Okta stock opened at $136.10 on Friday. The business has a fifty day simple moving average of $123.08 and a two-hundred day simple moving average of $95.65. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 98.62, a P/E/G ratio of 4.91 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million for 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%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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. As a group, equities analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the transaction, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at $5,642,524.08. This represents a 64.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the transaction, the director directly owned 9,192 shares in the company, valued at approximately $781,320. This represents a 21.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 174,224 shares of company stock worth $22,534,353 in the last 90 days. Corporate insiders own 4.61% of the company’s stock.

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.