Picton Mahoney Asset Management Makes New Investment in Okta, Inc. $OKTA

Picton Mahoney Asset Management bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, Holdings Channel reports. The firm bought 8,510 shares of the company’s stock, valued at approximately $781,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKTA. Root Financial Partners LLC purchased a new position in shares of Okta during the third quarter valued at $26,000. Promus Capital LLC purchased a new stake in Okta in the second quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new position in Okta during the 3rd quarter worth about $34,000. Westside Investment Management Inc. grew its holdings in Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new position in Okta during the 3rd quarter valued at about $40,000. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on shares of Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, January 5th. BTIG Research cut their price objective on shares of Okta from $116.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Mizuho reduced their price objective on shares of Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Scotiabank reduced their price objective on shares of Okta from $85.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Zacks Research upgraded Okta from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the sale, the insider owned 38,164 shares in the company, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,927 shares of company stock valued at $3,272,658 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Up 1.3%

NASDAQ OKTA opened at $80.72 on Friday. Okta, Inc. has a 52 week low of $68.77 and a 52 week high of $127.57. The company has a 50 day moving average price of $85.06 and a 200 day moving average price of $87.36. The firm has a market cap of $14.31 billion, a PE ratio of 61.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.79.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its board has approved a share repurchase program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 results beat and signs of enterprise traction — Okta reported stronger-than-expected Q4 revenue and EPS (revenue ~$761M, EPS $0.90) with cRPO/contract metrics up, which underpins the near-term rally. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: AI‑agent product traction — Management said AI‑related products (e.g., Auth0 for AI Agents / Okta for AI Agents) contributed meaningfully to Q4 bookings and the company exceeded $3B in ACV, giving a credible growth narrative tied to securing non‑human identities. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Positive Sentiment: Analyst upgrades and bullish notes — Multiple brokers reiterated or upgraded coverage after the print (BMO upgraded to Outperform with a $97 PT; JPMorgan raised its PT slightly; Jefferies/DA Davidson remain constructive), which supports near‑term upside. BMO Capital Upgrades Okta to Outperform
• Neutral Sentiment: Mixed analyst positioning — while some firms kept or raised price targets, many others trimmed targets on a mix of valuation and near‑term growth concerns; consensus views show upside but with varied conviction. Okta To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Friday
• Neutral Sentiment: Equity plan / shelf filing announced — Okta filed a $763M shelf tied to an ESOP equity offering; routine for employee programs but worth noting for potential future supply. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Negative Sentiment: Cautious FY‑2027 guidance and Q1 outlook — management’s FY‑27 and Q1 guidance implied a near‑term revenue deceleration (Q1 revenue guide slightly below Street estimates), which tempers the rally and keeps longer‑term growth questions alive. Okta’s Q4 results surpass estimates, but guidance appears mixed
• Negative Sentiment: Competition and execution questions on the AI agent opportunity — analysts warn that the AI‑agent TAM is attractive but unproven; large cloud players and security vendors are building competing solutions, making monetization and sustained re‑acceleration uncertain. Okta: Bigger Deals And Renewed Growth, Thanks To Agentic AI
• Negative Sentiment: Analyst price‑target cuts — several brokers trimmed targets post‑earnings despite positive notes, signaling caution on valuation and the company’s ability to reaccelerate growth. Benzinga Coverage of Price Target Changes

Okta Company 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.