ABN Amro Investment Solutions Sells 4,777 Shares of Okta, Inc. $OKTA

ABN Amro Investment Solutions lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 42.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,418 shares of the company’s stock after selling 4,777 shares during the period. ABN Amro Investment Solutions’ holdings in Okta were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of OKTA. Oslo Pensjonsforsikring AS purchased a new position in Okta in the first quarter valued at about $216,000. Titan Global Capital Management USA LLC raised its stake in shares of Okta by 2.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 32,044 shares of the company’s stock worth $2,522,000 after acquiring an additional 787 shares in the last quarter. Carson Advisory Inc. purchased a new stake in Okta during the first quarter valued at approximately $299,000. Meeder Advisory Services Inc. acquired a new stake in Okta in the first quarter valued at approximately $268,000. Finally, Parallel Advisors LLC boosted its stake in Okta by 20.3% in the first quarter. Parallel Advisors LLC now owns 5,611 shares of the company’s stock valued at $442,000 after acquiring an additional 945 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the transaction, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at $14,032,480. The trade was a 35.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 174,224 shares of company stock worth $22,534,353. 4.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKTA. HC Wainwright began coverage on Okta in a research report on Monday, July 6th. They issued a “buy” rating for the company. The Goldman Sachs Group assumed coverage on Okta in a research report on Monday, July 6th. They set a “buy” rating on the stock. Wolfe Research began coverage on Okta in a research note on Thursday, April 16th. They issued an “outperform” rating for the company. Capital One Financial set a $171.00 price target on Okta and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Scotiabank upgraded Okta from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $135.00 to $165.00 in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $121.81.

Okta Stock Performance

Shares of OKTA stock opened at $138.50 on Monday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $157.00. The firm has a market capitalization of $24.07 billion, a PE ratio of 100.36, a P/E/G ratio of 4.98 and a beta of 0.77. The stock’s 50-day simple moving average is $124.19 and its 200-day simple moving average is $96.01.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue 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. Sell-side analysts forecast that Okta, Inc. will post 1.75 earnings per share for the current year.

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.