Nemes Rush Group LLC Acquires 787 Shares of Okta, Inc. $OKTA

Nemes Rush Group LLC boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 16.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,477 shares of the company’s stock after purchasing an additional 787 shares during the period. Nemes Rush Group LLC’s holdings in Okta were worth $548,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Okta by 67.8% in the 1st quarter. Victory Capital Management Inc. now owns 35,494 shares of the company’s stock valued at $3,735,000 after purchasing an additional 14,340 shares during the period. Choreo LLC boosted its stake in shares of Okta by 31.9% in the first quarter. Choreo LLC now owns 7,240 shares of the company’s stock valued at $762,000 after buying an additional 1,750 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Okta by 24.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,673 shares of the company’s stock worth $597,000 after purchasing an additional 1,124 shares in the last quarter. Cetera Investment Advisers grew its stake in Okta by 15.6% during the first quarter. Cetera Investment Advisers now owns 22,396 shares of the company’s stock worth $2,357,000 after buying an additional 3,025 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Okta by 320.2% during the 1st quarter. Pacer Advisors Inc. now owns 122,282 shares of the company’s stock worth $12,867,000 after acquiring an additional 93,179 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Okta stock opened at $78.68 on Monday. The stock has a market cap of $13.77 billion, a PE ratio of 92.56, a price-to-earnings-growth ratio of 3.86 and a beta of 0.84. The firm’s 50-day simple moving average is $88.62 and its 200 day simple moving average is $96.18. Okta, Inc. has a fifty-two week low of $74.81 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the company posted $0.72 earnings per share. Okta’s quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OKTA shares. Berenberg Bank assumed coverage on Okta in a research report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $60.00 price objective on shares of Okta in a report on Friday, November 14th. Robert W. Baird dropped their price target on shares of Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. BMO Capital Markets dropped their price objective on Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Finally, Citigroup reissued a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Twenty-three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.33.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the sale, the insider directly owned 39,155 shares of the company’s stock, valued at $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 64,975 shares of company stock worth $6,011,126. 5.68% of the stock is owned by corporate insiders.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.