Virtue Capital Management LLC Acquires New Shares in Okta, Inc. $OKTA

Virtue Capital Management LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,071 shares of the company’s stock, valued at approximately $1,479,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Swedbank AB increased its stake in Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after purchasing an additional 397,507 shares in the last quarter. Bank of America Corp DE increased its stake 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 valued at $117,821,000 after purchasing an additional 6,533 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Okta by 192.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock worth $101,879,000 after buying an additional 320,849 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in Okta by 54.5% during the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock worth $65,370,000 after buying an additional 292,900 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. New Street Research set a $235.00 price objective on shares of Okta in a research note on Thursday, September 24th. Barclays upped their target price on shares of Okta from $180.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. HC Wainwright began coverage on shares of Okta in a report on Monday, July 6th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their price target on shares of Okta from $126.00 to $203.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Bank of America lifted their price target on Okta from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta was viewed favorably versus SentinelOne because of stronger profitability, robust cash flow and expanding capabilities for securing AI agents. However, the comparison also noted that Okta’s revenue growth is slower. OKTA vs. S: Which Enterprise Cybersecurity Stock Has an Edge Now?
• Positive Sentiment: Okta is expanding its Agent Identity Platform and has reported multimillion-dollar customer wins and new tools aimed at securing AI agents. The opportunity could support future growth, although adoption has not yet translated into a significant revenue contribution. Can Okta’s Agent Identity Platform Capture the AI Security Opportunity?
• Positive Sentiment: CNBC coverage highlighted Okta as one of Josh Brown’s preferred stocks, while noting that he was trading around a pullback. The endorsement may reinforce the bullish investment case but is not a change to Okta’s fundamentals. There’s a cybersecurity stock on Josh Brown’s list that’s pulling back
• Neutral Sentiment: Analyst coverage emphasized that OKTA has risen about 157.5% year to date on demand for identity security and AI, but investors must balance that momentum against slower growth, competition and a premium valuation. Okta Surges 158% YTD: Should Investors Hold the Stock Now?
• Negative Sentiment: Reports alleged that records belonging to more than 40,000 DHS employees were leaked and published online via DDoSecrets. Okta said its core systems were not compromised, which may limit direct operational concerns, but the incident still creates reputational and cybersecurity risk. Over 40,000 U.S. DHS employee records allegedly leaked via Okta

Okta Stock Performance

Shares of OKTA stock opened at $208.24 on Monday. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 125.45, a PEG ratio of 6.48 and a beta of 0.73. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $235.00. The company has a 50-day simple moving average of $192.78 and a two-hundred day simple moving average of $124.67.

Okta (NASDAQ:OKTA) last posted its 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 firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $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. On average, sell-side analysts forecast that Okta, Inc. will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Todd McKinnon sold 48,822 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This trade represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction on 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 sale, 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 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. Over the last three months, insiders have sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is owned by company insiders.

Okta Company 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.