Okta, Inc. $OKTA Stock: Citrine Capital LLC Decreases Stake

Citrine Capital LLC lessened its position in Okta, Inc. (NASDAQ:OKTA) by 21.8% during the third quarter, Holdings Channel reports. The institutional investor owned 12,014 shares of the company’s stock after selling 3,351 shares during the quarter. Okta comprises approximately 0.8% of Citrine Capital LLC’s portfolio, making the stock its 13th largest holding. Citrine Capital LLC’s holdings in Okta were worth $2,512,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OKTA. Allspring Global Investments Holdings LLC boosted its position in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Okta by 28.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after acquiring an additional 550,328 shares in the last quarter. Swedbank AB grew its stake in shares of Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after acquiring an additional 397,507 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Okta by 0.4% during the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after acquiring an additional 6,533 shares in the last quarter. Finally, Senvest Management LLC raised its holdings in shares of Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after purchasing an additional 292,900 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 0.2%

NASDAQ:OKTA opened at $226.53 on Wednesday. The stock has a market capitalization of $39.60 billion, a PE ratio of 136.46, a P/E/G ratio of 7.06 and a beta of 0.73. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The firm has a fifty day simple moving average of $176.97 and a 200 day simple moving average of $131.71.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts predict that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on OKTA. Stifel Nicolaus boosted their price objective on shares of Okta from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. HSBC cut shares of Okta from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Barclays raised their target price on shares of Okta from $180.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Robert W. Baird lifted their price target on shares of Okta from $200.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Finally, Royal Bank Of Canada lifted their price target on shares of Okta from $195.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.10.

Insider Activity

In other news, insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% decrease in their position. The transaction was disclosed in a document filed 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 48,822 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares in the company, valued at approximately $8,518,730.92. The trade was a 52.58% 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 sold a total of 137,766 shares of company stock valued at $23,927,112 in the last quarter. Company insiders own 4.61% of the company’s stock.

Okta Company Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.