Y Intercept Hong Kong Ltd Has $5.93 Million Stake in Okta, Inc. $OKTA

Y Intercept Hong Kong Ltd lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 111.6% in the third quarter, HoldingsChannel.com reports. The firm owned 64,641 shares of the company’s stock after purchasing an additional 34,096 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Okta were worth $5,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OKTA. Vanguard Group Inc. raised its position in shares of Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after acquiring an additional 935,364 shares during the last quarter. First Trust Advisors LP boosted its holdings in Okta by 9.1% in the second quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock valued at $489,966,000 after acquiring an additional 407,087 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Okta by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after purchasing an additional 179,919 shares during the period. Geode Capital Management LLC raised its holdings in Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock worth $314,488,000 after purchasing an additional 314,525 shares during the last quarter. Finally, Ninety One UK Ltd lifted its position in Okta by 52.1% during the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock valued at $274,370,000 after purchasing an additional 939,589 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

Shares of OKTA opened at $90.76 on Friday. The firm has a market cap of $16.09 billion, a P/E ratio of 83.27, a PEG ratio of 4.24 and a beta of 0.76. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57. The firm’s 50 day moving average price is $87.23 and its two-hundred day moving average price is $90.00.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its board has authorized a share repurchase plan on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 8,370 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the completion of the transaction, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This represents a 42.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the transaction, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,727 shares of company stock valued at $3,344,746 over the last three months. 5.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OKTA has been the topic of several analyst reports. Stifel Nicolaus cut their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. Barclays reduced their target price on Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a research report on Wednesday, December 17th. Guggenheim reissued a “buy” rating and set a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Twenty-five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $113.88.

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.