Okta, Inc. $OKTA Stock Sold by Citrine Capital LLC

Citrine Capital LLC lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 21.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,014 shares of the company’s stock after selling 3,351 shares during the quarter. Okta comprises about 0.8% of Citrine Capital LLC’s investment 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diversify Wealth Management LLC acquired a new position in shares of Okta during the 1st quarter worth about $2,077,000. Torque Asset Management LLC raised its position in shares of Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after acquiring an additional 83,337 shares during the period. Swiss National Bank raised its position in shares of Okta by 7.7% in the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock valued at $39,142,000 after acquiring an additional 35,700 shares during the period. Avory & Company LLC acquired a new stake in shares of Okta in the 1st quarter valued at approximately $1,593,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in Okta by 6.1% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 137,420 shares of the company’s stock worth $10,816,000 after acquiring an additional 7,909 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the sale, the chief financial officer directly owned 7,693 shares in the company, valued at $1,249,650.92. This trade represents a 84.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,766 shares of company stock worth $23,927,112 over the last quarter. 4.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OKTA shares. The Goldman Sachs Group upped their target price on shares of Okta from $126.00 to $203.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Royal Bank Of Canada increased their target price on shares of Okta from $195.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. Piper Sandler lifted their price target on shares of Okta from $105.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Stifel Nicolaus lifted their price target 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. Finally, Morgan Stanley boosted their price target on shares of Okta from $200.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.10.

Okta Price Performance

NASDAQ:OKTA opened at $226.53 on Wednesday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $235.00. The stock has a market capitalization of $39.60 billion, a PE ratio of 136.46, a price-to-earnings-growth ratio of 7.06 and a beta of 0.73. The business’s 50-day simple moving average is $176.97 and its 200-day simple moving average is $131.71.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. Okta’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. 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, research analysts expect that Okta, Inc. will post 1.92 earnings per share for the current year.

Okta 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.