Okta, Inc. $OKTA Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 21.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,586,578 shares of the company’s stock after purchasing an additional 280,312 shares during the quarter. Primecap Management Co. CA’s holdings in Okta were worth $158,610,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OKTA. Pinnacle Bancorp Inc. acquired a new position in Okta in the second quarter worth approximately $26,000. Harbour Investments Inc. increased its stake in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Kiker Wealth Management LLC raised its holdings in Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after buying an additional 159 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Okta by 126.0% in the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Down 1.2%

OKTA opened at $80.09 on Thursday. The business has a 50 day moving average of $89.13 and a 200-day moving average of $96.87. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 94.22, a P/E/G ratio of 3.98 and a beta of 0.84. Okta, Inc. has a 1-year low of $72.88 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OKTA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a report on Wednesday, October 8th. Barclays decreased their price target on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, August 27th. BTIG Research reiterated a “buy” rating and issued a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Finally, Canaccord Genuity Group raised shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the stock from $115.00 to $120.00 in a research note on Tuesday, August 26th. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and an average price target of $117.33.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the completion of the sale, the insider directly owned 39,155 shares of the company’s stock, valued at $3,530,606.35. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,975 shares of company stock valued at $6,011,126 in the last ninety days. 5.68% of the stock is owned by corporate insiders.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.