Okta, Inc. $OKTA Shares Newly Acquired by R Squared Ltd

R Squared Ltd bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,209 shares of the company’s stock, valued at approximately $671,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after buying an additional 1,485,963 shares during the period. Bank of America Corp DE increased its stake in shares of Okta by 0.4% in the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock valued at $117,821,000 after acquiring an additional 6,533 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Okta by 192.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock valued at $101,879,000 after acquiring an additional 320,849 shares during the period. Senvest Management LLC raised its position in shares of Okta by 54.5% in the 1st quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after acquiring an additional 292,900 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Okta by 114.3% in the 1st quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after acquiring an additional 397,951 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $182.54 on Friday. The business’s 50 day simple moving average is $197.85 and its 200 day simple moving average is $128.71. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $235.00. The firm has a market cap of $31.91 billion, a PE ratio of 109.96, a P/E/G ratio of 5.67 and a beta of 0.74.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts predict that Okta, Inc. will post 1.92 EPS for the current year.

Insider Activity

In related news, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,766 shares of company stock worth $23,927,112 over the last ninety days. Insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. Stephens upped their target price on shares of Okta from $190.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. BTIG Research reissued a “buy” rating and set a $219.00 price target on shares of Okta in a research report on Thursday, September 24th. Roth Capital boosted their price target on shares of Okta from $155.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, September 24th. BMO Capital Markets upped their price objective on shares of Okta from $230.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Finally, Wells Fargo & Company upped their price objective on shares of Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus price target of $202.38.

About Okta

Okta, Inc. provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources. Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.