Rare Wolf Capital LLC Makes New $390,000 Investment in Okta, Inc. $OKTA

Rare Wolf Capital LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,514 shares of the company’s stock, valued at approximately $390,000.

Other large investors have also modified their holdings of the company. Elevation Wealth Partners LLC boosted its holdings in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the period. Torren Management LLC acquired a new stake in shares of Okta in the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Okta in the third quarter valued at approximately $34,000. Spire Wealth Management raised its holdings in shares of Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of Okta during the fourth quarter worth approximately $52,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $117.81 on Friday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The firm has a market cap of $20.48 billion, a P/E ratio of 85.37, a PEG ratio of 4.09 and a beta of 0.80. The stock has a fifty day moving average price of $91.73 and a two-hundred day moving average price of $86.85.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts predict that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. Stifel Nicolaus decreased their price objective on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Berenberg Bank boosted their price target on Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. HSBC raised Okta to a “buy” rating in a research note on Thursday, April 16th. Mizuho lowered Okta from an “outperform” rating to a “neutral” rating and raised their price target for the company from $110.00 to $125.00 in a report on Tuesday, June 2nd. Finally, Susquehanna lifted their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.14.

Insider Transactions at Okta

In other Okta news, Director David Schellhase purchased 3,712 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was bought at an average cost of $72.04 per share, with a total value of $267,412.48. Following the acquisition, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the transaction, the insider owned 23,477 shares of the company’s stock, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 142,201 shares of company stock valued at $15,104,140 in the last quarter. 4.61% of the stock is 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.