B. Metzler seel. Sohn & Co. AG Buys 6,289 Shares of Okta, Inc. $OKTA

B. Metzler seel. Sohn & Co. AG grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 154.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,362 shares of the company’s stock after purchasing an additional 6,289 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Okta were worth $950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKTA. Root Financial Partners LLC bought a new stake in Okta during the third quarter worth $26,000. Promus Capital LLC bought a new position in shares of Okta in the 2nd quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Okta in the 3rd quarter valued at about $34,000. Westside Investment Management Inc. increased its stake in shares of Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Okta during the 3rd quarter worth about $40,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 1.6%

Shares of OKTA stock opened at $80.85 on Thursday. The firm has a 50 day moving average price of $84.63 and a two-hundred day moving average price of $87.13. The company has a market capitalization of $14.33 billion, a PE ratio of 61.72, a price-to-earnings-growth ratio of 3.28 and a beta of 0.79. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter 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. As a group, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its Board of Directors has approved a stock buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 1,836 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $83.47, for a total value of $153,250.92. Following the completion of the sale, the insider owned 36,328 shares of the company’s stock, valued at approximately $3,032,298.16. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,927 shares of company stock worth $3,272,658 over the last ninety days. Corporate insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald cut their target price on shares of Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. UBS Group lowered their price target on Okta from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Guggenheim restated a “buy” rating and issued a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Stephens cut their price objective on Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.25.

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.