Okta, Inc. $OKTA Shares Purchased by GFG Capital LLC

GFG Capital LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 12.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,971 shares of the company’s stock after buying an additional 3,639 shares during the quarter. Okta comprises 1.1% of GFG Capital LLC’s investment portfolio, making the stock its 26th biggest holding. GFG Capital LLC’s holdings in Okta were worth $4,635,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Okta in the fourth quarter valued at about $3,122,000. Swedbank AB increased its holdings in shares of Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after purchasing an additional 1,007,915 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Okta in the first quarter valued at approximately $2,077,000. Torque Asset Management LLC raised its position in Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock worth $25,002,000 after buying an additional 83,337 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Okta by 7.7% in the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock worth $39,142,000 after acquiring an additional 35,700 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKTA. Arete Research set a $127.00 target price on Okta and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Roth Capital reaffirmed a “buy” rating on shares of Okta in a report on Thursday, August 27th. Sanford C. Bernstein raised their price objective on Okta from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. boosted their target price on Okta from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Finally, Cantor Fitzgerald upped their target price on Okta from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.92.

Okta Price Performance

Shares of NASDAQ OKTA opened at $167.60 on Wednesday. The company has a 50-day simple moving average of $147.69 and a 200-day simple moving average of $109.74. The company has a market cap of $29.30 billion, a PE ratio of 100.96, a price-to-earnings-growth ratio of 5.31 and a beta of 0.79. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $174.85.

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

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the sale, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 68,936 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the sale, the chief executive officer owned 38,484 shares of the company’s stock, valued at $5,642,524.08. This represents a 64.17% 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. In the last 90 days, insiders have sold 155,376 shares of company stock valued at $23,734,135. Corporate insiders own 4.61% of the company’s stock.

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.