Tredje AP fonden Lowers Holdings in Okta, Inc. $OKTA

Tredje AP fonden reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 54.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 211,985 shares of the company’s stock after selling 253,650 shares during the quarter. Tredje AP fonden’s holdings in Okta were worth $18,330,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OKTA. Root Financial Partners LLC acquired a new stake in shares of Okta during the 3rd quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its stake in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the period. Torren Management LLC purchased a new stake in Okta during the fourth quarter worth $32,000. Aster Capital Management DIFC Ltd purchased a new stake in Okta during the third quarter worth $34,000. Finally, Westside Investment Management Inc. grew its position in Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Up 5.2%

OKTA opened at $87.04 on Tuesday. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 3.22 and a beta of 0.59. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $127.52. The firm’s fifty day simple moving average is $77.17 and its two-hundred day simple moving average is $82.52.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. During the same quarter in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, research analysts forecast that Okta, Inc. will post 1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. UBS Group set a $85.00 price objective on shares of Okta in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Okta from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Wells Fargo & Company began coverage on Okta in a research report on Tuesday, March 3rd. They set an “equal weight” rating and a $76.00 target price on the stock. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Canaccord Genuity Group reduced their price target on Okta from $120.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Twenty-eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average price target of $101.19.

Insider Buying and Selling

In other news, Director David Schellhase acquired 3,712 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was bought at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director owned 3,712 shares in the company, valued at approximately $267,412.48. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 1,054 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $80.00, for a total value of $84,320.00. Following the transaction, the insider directly owned 48,448 shares of the company’s stock, valued at $3,875,840. The trade was a 2.13% 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. Insiders sold a total of 68,384 shares of company stock worth $5,413,148 in the last quarter. 4.61% of the stock is owned by insiders.

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.