Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Position in Okta, Inc. $OKTA

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129,511 shares of the company’s stock, valued at approximately $11,199,000.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the period. Allworth Financial LP grew its holdings in shares of Okta by 6.4% during the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after acquiring an additional 135 shares during the period. Choreo LLC grew its holdings in shares of Okta by 2.0% during the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock worth $664,000 after acquiring an additional 140 shares during the period. Raiffeisen Bank International AG grew its holdings in shares of Okta by 3.9% during the 3rd quarter. Raiffeisen Bank International AG now owns 4,369 shares of the company’s stock worth $410,000 after acquiring an additional 166 shares during the period. Finally, Westpac Banking Corp grew its holdings in shares of Okta by 10.6% during the 3rd quarter. Westpac Banking Corp now owns 1,851 shares of the company’s stock worth $170,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Truist Financial reduced their target price on Okta from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Cantor Fitzgerald reduced their target price on Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. DA Davidson reiterated a “buy” rating and set a $110.00 target price on shares of Okta in a report on Thursday, March 5th. Finally, Oppenheimer reduced their target price on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.19.

Insider Buying and Selling

In related news, Director David Schellhase purchased 3,712 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director directly owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the sale, the executive owned 4,364 shares in the company, valued at $339,475.56. The trade was a 84.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 68,384 shares of company stock worth $5,413,148 over the last three months. Corporate insiders own 4.61% of the company’s stock.

Okta Stock Down 1.5%

Okta stock opened at $85.70 on Wednesday. The company has a market capitalization of $15.16 billion, a P/E ratio of 65.42, a PEG ratio of 3.39 and a beta of 0.59. The stock’s 50 day moving average is $77.27 and its 200 day moving average is $82.51. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $127.52.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. 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, equities analysts expect that Okta, Inc. will post 1.61 EPS for the current year.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: KeyBanc raised its price target on Okta to $103 from $95 and kept an Overweight rating, citing a stronger outlook for enterprise security spending in the second half of the year. Okta Price Target Bumped to $103 at KeyBanc as Security Spending Catches Fire
• Positive Sentiment: Oppenheimer said Okta could post 1% to 2% upside versus fiscal first-quarter revenue estimates, which suggests the company may have a modest near-term earnings/revenue beat. Okta Likely to Deliver Modest Fiscal Q1 Revenue Upside, Oppenheimer Says
• Positive Sentiment: Software stocks broadly rebounded as investors reassessed the sector after a year of AI-related valuation ???, helping improve sentiment toward names like Okta. US software stocks rebound, seeking to loosen AI’s grip
• Positive Sentiment: Cybersecurity demand and digital transformation trends continue to support the industry backdrop for Okta alongside peers such as CrowdStrike and Fortinet. Zacks Industry Outlook Highlights CrowdStrike, Fortinet, Okta and Qualys
• Neutral Sentiment: Okta has also been highlighted as a trending stock, reflecting increased investor attention rather than a specific new fundamental catalyst. Okta, Inc. (OKTA) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: The stock also saw some volatility as recent gains faded, with one report noting it fell more than the broader market in the latest session. Here’s Why Okta (OKTA) Fell More Than Broader Market

About Okta

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.