Okta, Inc. $OKTA Stock Sold by Alamar Capital Management LLC

Alamar Capital Management LLC reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 50.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,815 shares of the company’s stock after selling 11,052 shares during the period. Okta makes up about 1.1% of Alamar Capital Management LLC’s holdings, making the stock its 26th largest holding. Alamar Capital Management LLC’s holdings in Okta were worth $2,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Generali Investments Management Co LLC raised its stake in Okta by 621.2% in the 3rd quarter. Generali Investments Management Co LLC now owns 21,671 shares of the company’s stock valued at $4,532,000 after purchasing an additional 18,666 shares during the last quarter. Diversify Wealth Management LLC bought a new position in Okta during the 1st quarter worth approximately $2,077,000. Western Financial Corp CA bought a new position in shares of Okta in the third quarter worth about $1,673,000. Swiss National Bank raised its stake in shares of Okta by 7.7% during the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock worth $39,142,000 after purchasing an additional 35,700 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Okta by 15.7% in the third quarter. Assenagon Asset Management S.A. now owns 215,922 shares of the company’s stock worth $45,151,000 after purchasing an additional 29,287 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares of the company’s stock, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the sale, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. The trade was a 25.52% 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. Over the last 90 days, insiders sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial raised their target price on Okta from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Citigroup increased their price target on Okta from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Wall Street Zen downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, BMO Capital Markets boosted their price objective on shares of Okta from $230.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.38.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: ETFs bought about $99.5 million of Okta shares on Wednesday, with 36 funds buying versus 15 selling. In a related report, the Invesco S&P 500 Equal Weight Technology ETF initiated an $89.1 million position in Okta, making it its only addition while trimming 74 other holdings. The buying may offer support, though both reports refer to Wednesday’s activity. ETF buying article Invesco RSPT article
• Negative Sentiment: Okta shares declined alongside other software names as Wall Street retreated from AI-associated stocks, a rotation that hit recent software winners. This broad sector-driven selling was a key near-term headwind. Software sell-off article
• Negative Sentiment: A Seeking Alpha contributor downgraded Okta to Sell, arguing that its valuation bubble may be deflating. The bearish valuation view could weigh on sentiment, particularly amid the wider pullback in software stocks. Seeking Alpha downgrade

Okta Stock Performance

Okta stock opened at $168.69 on Friday. Okta, Inc. has a one year low of $62.66 and a one year high of $235.00. The stock’s 50 day moving average price is $196.81 and its 200 day moving average price is $126.92. The firm has a market capitalization of $29.49 billion, a PE ratio of 101.62, a price-to-earnings-growth ratio of 5.75 and a beta of 0.74.

Okta (NASDAQ:OKTA) last announced 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 firm 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%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. 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, analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources.

Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta serves organizations around the world across a range of industries.