Okta, Inc. $OKTA Shares Newly Acquired by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,909 shares of the company’s stock, valued at approximately $1,236,000.

Several other institutional investors and hedge funds have also made changes to their positions in OKTA. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA increased its position in Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after buying an additional 550,328 shares during the period. Swedbank AB increased its position in Okta by 21.9% during the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after buying an additional 397,507 shares during the period. Bank of America Corp DE increased its position in Okta by 0.4% during the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after buying an additional 6,533 shares during the period. Finally, Senvest Management LLC lifted its stake in Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after buying an additional 292,900 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. HSBC downgraded Okta from a “buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group raised their target price on shares of Okta from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. DA Davidson lifted their target price on shares of Okta from $190.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Weiss Ratings downgraded shares of Okta from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, Susquehanna upped their price target on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

Okta Stock Up 1.4%

OKTA traded up $2.67 on Monday, hitting $189.93. 2,988,401 shares of the company traded hands, compared to its average volume of 3,600,574. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00. The company has a 50 day moving average of $180.34 and a 200-day moving average of $134.39. The stock has a market capitalization of $33.20 billion, a PE ratio of 114.42, a PEG ratio of 5.83 and a beta of 0.73.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share 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 company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. During the same period last year, the business posted $0.91 EPS. The company’s revenue was up 10.6% on a year-over-year basis. 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, research analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Insider Transactions at Okta

In related news, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of Okta 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 owned 18,668 shares in the company, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. 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 137,766 shares of company stock worth $23,927,112 over the last 90 days. 4.61% of the stock is currently owned by insiders.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.