Prescott Group Capital Management L.L.C. Purchases 10,000 Shares of Okta, Inc. $OKTA

Prescott Group Capital Management L.L.C. acquired a new stake in Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company’s stock, valued at approximately $2,091,000.

Several other hedge funds also recently added to or reduced their stakes in OKTA. Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares in the last quarter. Swedbank AB lifted its position in Okta by 21.9% during the 1st 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 lifted its position in Okta by 0.4% during the 1st 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 in the last quarter. Senvest Management LLC boosted its holdings in Okta by 54.5% in the 1st quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock worth $65,370,000 after acquiring an additional 292,900 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Okta by 114.3% in the 1st quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock worth $58,718,000 after acquiring an additional 397,951 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Okta news, 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 value of $1,173,994.10. Following the completion of the transaction, the insider owned 18,668 shares of the company’s stock, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the transaction, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This represents a 84.28% 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 a total of 137,766 shares of company stock valued at $23,927,112 in the last quarter. Insiders own 4.61% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: S&P 500 inclusion could bring buying demand. Okta is set to replace Kenvue in the index on Nov. 4, prompting index funds and other passive investors to adjust holdings. The prospect of that demand has helped lift sentiment, although some of the buying may already be reflected in the share price. Article: Dear Okta Stock Fans, Mark Your Calendars for November 4
• Positive Sentiment: Broker coverage is presented as supportive. A Zacks article says broker recommendations suggest investing in OKTA, which may bolster sentiment, though analyst ratings are not a guarantee of future performance. Article: Brokers Suggest Investing in Okta
• Neutral Sentiment: Citi maintained a Hold rating and $215 price target. The analyst said the impact of the DHS incident appears contained, a reassuring assessment tempered by the unchanged Hold recommendation. Article: Okta Maintains $215 Price Target
• Neutral Sentiment: Third-quarter results are scheduled for Dec. 1. The date gives investors a coming checkpoint on Okta’s performance, but the announcement itself does not provide new financial results or guidance. Article: Okta to Announce Third Quarter Fiscal Year 2027 Financial Results
• Negative Sentiment: Recent trading has been volatile. Okta fell sharply in the prior session before the reported rebound; the cited coverage does not identify a specific company development behind that decline. Article: Okta Registers a Bigger Fall Than the Market

Okta Price Performance

NASDAQ OKTA opened at $189.68 on Wednesday. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 114.27, a price-to-earnings-growth ratio of 5.75 and a beta of 0.74. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $235.00. The company’s fifty day moving average price is $194.95 and its two-hundred day moving average price is $125.61.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. During the same quarter in the previous year, the firm earned $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. As a group, analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Analyst Ratings Changes

OKTA has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of Okta from $126.00 to $203.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. New Street Research set a $235.00 price target on shares of Okta in a research note on Thursday, September 24th. Mizuho lifted their price target on shares of Okta from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, September 24th. Roth Capital boosted their price objective on shares of Okta from $155.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Finally, Barclays upped their price objective on shares of Okta from $180.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

Okta Profile

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.