Okta, Inc. $OKTA Stock Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC increased its stake in Okta, Inc. (NASDAQ:OKTA) by 168.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,576 shares of the company’s stock after purchasing an additional 3,497 shares during the quarter. Quadrant Capital Group LLC’s holdings in Okta were worth $1,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Diversify Wealth Management LLC acquired a new position in Okta during the first quarter worth about $2,077,000. Generali Investments Management Co LLC increased its holdings in Okta by 621.2% in the third quarter. Generali Investments Management Co LLC now owns 21,671 shares of the company’s stock valued at $4,532,000 after buying an additional 18,666 shares in the last quarter. Swiss National Bank lifted its position in shares of Okta by 7.7% during the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock valued at $39,142,000 after acquiring an additional 35,700 shares during the period. Western Financial Corp CA acquired a new stake in shares of Okta during the 3rd quarter valued at approximately $1,673,000. Finally, Avory & Company LLC purchased a new stake in shares of Okta during the 1st quarter worth approximately $1,593,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In other news, insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction on Friday, September 18th. The stock was 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 directly 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 legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares in the company, valued at $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 137,766 shares of company stock valued at $23,927,112. 4.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKTA. BTIG Research restated a “buy” rating and issued a $219.00 price target on shares of Okta in a report on Thursday, September 24th. KeyCorp set a $240.00 price objective on Okta and gave the stock an “overweight” rating in a report on Thursday, September 24th. Weiss Ratings downgraded Okta from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. BMO Capital Markets boosted their target price on Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Finally, Piper Sandler upped their target price on Okta from $105.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.38.

Okta Price Performance

Shares of NASDAQ OKTA opened at $213.05 on Friday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00. The company has a market capitalization of $37.25 billion, a PE ratio of 128.34, a price-to-earnings-growth ratio of 6.26 and a beta of 0.73. The firm’s 50-day moving average is $185.47 and its two-hundred day moving average is $138.26.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating 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 business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period in the prior year, the business earned $0.91 earnings per share. The company’s quarterly 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, analysts forecast that Okta, Inc. will post 1.92 EPS for the current fiscal year.

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.