Y Intercept Hong Kong Ltd Acquires 34,096 Shares of Okta, Inc. $OKTA

Y Intercept Hong Kong Ltd grew its stake in Okta, Inc. (NASDAQ:OKTA) by 111.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,641 shares of the company’s stock after buying an additional 34,096 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Okta were worth $5,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKTA. Envestnet Portfolio Solutions Inc. raised its position in shares of Okta by 5.5% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 69,474 shares of the company’s stock valued at $6,371,000 after purchasing an additional 3,630 shares during the period. Covestor Ltd lifted its position in Okta by 28.9% during the 3rd quarter. Covestor Ltd now owns 1,188 shares of the company’s stock worth $109,000 after acquiring an additional 266 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in Okta during the 3rd quarter worth $1,469,000. Chicago Partners Investment Group LLC boosted its holdings in Okta by 82.4% during the third quarter. Chicago Partners Investment Group LLC now owns 5,415 shares of the company’s stock valued at $484,000 after acquiring an additional 2,447 shares during the period. Finally, Inscription Capital LLC acquired a new stake in shares of Okta in the third quarter valued at about $1,320,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 0.8%

NASDAQ OKTA opened at $90.76 on Friday. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57. The company has a market capitalization of $16.09 billion, a price-to-earnings ratio of 83.27, a PEG ratio of 4.24 and a beta of 0.76. The stock’s 50 day moving average is $87.23 and its two-hundred day moving average is $90.00.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter last year, the company earned $0.67 EPS. Okta’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has approved a share repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKTA. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research note on Thursday. Mizuho cut their target price on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, November 17th. The Goldman Sachs Group dropped their price objective on shares of Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. UBS Group restated a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Okta from $110.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, December 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.88.

Insider Activity

In other news, CEO Todd Mckinnon sold 11,286 shares of Okta stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,727 shares of company stock worth $3,344,746 over the last 90 days. 5.68% of the stock is currently owned by company insiders.

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.