Okta, Inc. $OKTA Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,261,303 shares of the company’s stock after acquiring an additional 57,605 shares during the quarter. Geode Capital Management LLC’s holdings in Okta were worth $281,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elevation Wealth Partners LLC lifted its position in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Okta during the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Okta during the third quarter valued at approximately $34,000. Westside Investment Management Inc. raised its stake in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after purchasing an additional 193 shares during the period. Finally, Spire Wealth Management raised its stake 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 purchasing an additional 119 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of analyst reports. Berenberg Bank lifted their price objective on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday. Citigroup reiterated an “outperform” rating on shares of Okta in a research note on Friday. Morgan Stanley lifted their price objective on shares of Okta from $101.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group set a $85.00 price objective on shares of Okta in a research note on Thursday, April 16th. Finally, Scotiabank lifted their price objective on shares of Okta from $80.00 to $105.00 and gave the company a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Okta has an average rating of “Moderate Buy” and an average target price of $111.86.

Okta Trading Up 13.4%

OKTA stock opened at $139.79 on Tuesday. The firm has a market cap of $24.73 billion, a P/E ratio of 101.30, a P/E/G ratio of 4.78 and a beta of 0.59. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35. The stock’s 50 day simple moving average is $81.09 and its 200 day simple moving average is $83.33.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $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 forecast that Okta, Inc. will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 23,304 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the sale, the executive directly owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. This represents a 84.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 1,054 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $80.00, for a total value of $84,320.00. Following the sale, the insider directly owned 48,448 shares in the company, valued at approximately $3,875,840. This represents a 2.13% 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. In the last 90 days, insiders sold 70,884 shares of company stock worth $5,625,648. 4.61% of the stock is owned by insiders.

Okta Profile

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.