Prospera Financial Services Inc Decreases Stake in Okta, Inc. $OKTA

Prospera Financial Services Inc decreased its position in Okta, Inc. (NASDAQ:OKTA) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,966 shares of the company’s stock after selling 7,887 shares during the period. Prospera Financial Services Inc’s holdings in Okta were worth $1,035,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after buying an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co grew its position in Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after buying an additional 15,058 shares during the period. Congress Asset Management Co. grew its position in Okta by 23.0% during the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after buying an additional 18,325 shares during the period. Finally, Federated Hermes Inc. grew its position in Okta by 18.7% during the third quarter. Federated Hermes Inc. now owns 269,505 shares of the company’s stock valued at $24,714,000 after buying an additional 42,395 shares during the period. Institutional investors own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

Wall Street Analyst Weigh In

OKTA has been the subject of several research reports. Cantor Fitzgerald increased their price target on shares of Okta from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Okta from $103.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup upgraded shares of Okta from a “negative” rating to a “positive” rating in a research report on Wednesday, May 20th. Scotiabank reduced their price target on shares of Okta from $85.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 5th. Finally, Jefferies Financial Group reduced their price target on shares of Okta from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.44.

Okta Trading Up 5.8%

Shares of Okta stock opened at $94.72 on Friday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $107.84. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 72.31, a PEG ratio of 3.49 and a beta of 0.59. The company’s 50-day moving average price is $79.01 and its 200-day moving average price is $82.69.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter 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, sell-side analysts predict that Okta, Inc. will post 1.61 earnings per share for the current year.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider directly owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director directly owned 9,192 shares in the company, valued at approximately $781,320. The trade was 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. In the last 90 days, insiders sold 70,884 shares of company stock valued at $5,625,648. 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.