8,843 Shares in Okta, Inc. $OKTA Purchased by Eleva Capital SAS

Eleva Capital SAS bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,843 shares of the company’s stock, valued at approximately $1,849,000. Okta comprises approximately 1.5% of Eleva Capital SAS’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKTA. Allspring Global Investments Holdings LLC grew its stake 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 worth $281,209,000 after buying an additional 1,485,963 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after acquiring an additional 550,328 shares in the last quarter. Swedbank AB grew its position in Okta by 21.9% in the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after acquiring an additional 397,507 shares in the last quarter. Bank of America Corp DE increased its stake 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 acquiring an additional 6,533 shares during the last quarter. Finally, Senvest Management LLC raised its position in Okta by 54.5% during the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after purchasing an additional 292,900 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the sale, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider owned 18,668 shares in the company, valued at approximately $3,427,071.44. The trade was 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. Over the last quarter, insiders sold 206,702 shares of company stock worth $34,034,508. Company insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on OKTA shares. Sanford C. Bernstein cut Okta from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $143.00 to $174.00 in a report on Thursday, September 17th. Robert W. Baird raised their price target on Okta from $200.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Okta from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. The Goldman Sachs Group increased their target price on shares of Okta from $126.00 to $203.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, HSBC lowered shares of Okta from a “buy” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.72.

Okta Price Performance

Shares of NASDAQ:OKTA traded down $0.20 on Tuesday, hitting $218.09. 1,799,295 shares of the company’s stock were exchanged, compared to its average volume of 3,600,240. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 131.37, a price-to-earnings-growth ratio of 6.58 and a beta of 0.73. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $226.44. The business’s 50 day simple moving average is $167.01 and its two-hundred day simple moving average is $125.59.

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

About Okta

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.