Polianta Ltd Makes New $1.87 Million Investment in Okta, Inc. $OKTA

Polianta Ltd bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,700 shares of the company’s stock, valued at approximately $1,869,000.

Other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Okta during the first quarter valued at approximately $225,000. NewEdge Advisors LLC lifted its position in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after purchasing an additional 4,950 shares during the period. Sivia Capital Partners LLC purchased a new stake in Okta in the second quarter worth approximately $244,000. Invesco Ltd. boosted its holdings in Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock worth $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock worth $162,000 after purchasing an additional 893 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 3.4%

OKTA opened at $148.32 on Friday. The firm’s 50 day simple moving average is $133.88 and its two-hundred day simple moving average is $99.45. The company has a market capitalization of $25.78 billion, a PE ratio of 107.48, a PEG ratio of 5.33 and a beta of 0.77. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $157.00.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities analysts forecast that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 167,847 shares of company stock valued at $22,039,842 in the last ninety days. 4.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Okta from $100.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. DA Davidson raised their price target on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Oppenheimer lifted their price objective on Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. UBS Group upped their price objective on Okta from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Raymond James Financial downgraded Okta from a “buy” rating to a “strong sell” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average target price of $121.81.

Okta 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.