CenterBook Partners LP Sells 9,854 Shares of Okta, Inc. $OKTA

by · The Markets Daily

CenterBook Partners LP lessened its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 27.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,423 shares of the company’s stock after selling 9,854 shares during the quarter. CenterBook Partners LP’s holdings in Okta were worth $2,198,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Okta by 52.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in Okta by 40.1% in 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 in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Okta during the fourth quarter worth approximately $3,122,000. Finally, Congress Asset Management Co. raised its stake in shares of Okta by 23.0% in the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after acquiring an additional 18,325 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup restated an “outperform” rating on shares of Okta in a report on Friday, May 29th. Mizuho downgraded Okta from an “outperform” rating to a “neutral” rating and increased their price target for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Berenberg Bank increased their price target on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. raised their price objective on Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Truist Financial boosted their target price on Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $114.14.

Check Out Our Latest Analysis on Okta

Insider Buying and Selling

In other news, Director Shellye L. Archambeau sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at $781,320. This trade represents a 21.38% decrease in their position. The sale 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, insider Eric Robert Kelleher sold 2,409 shares of Okta 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 completion of the sale, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. This represents a 13.47% 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 94,019 shares of company stock valued at $8,828,330 over the last ninety days. Insiders own 4.61% of the company’s stock.

Okta Trading Up 2.7%

OKTA stock opened at $119.96 on Wednesday. The stock has a 50-day moving average price of $86.52 and a two-hundred day moving average price of $85.05. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The stock has a market cap of $20.85 billion, a PE ratio of 86.93, a price-to-earnings-growth ratio of 4.23 and a beta of 0.80.

Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period in the prior year, the firm earned $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. 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, analysts forecast that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

About Okta

(Free Report)

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.

Further Reading

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