Okta, Inc. $OKTA Stock Holdings Raised by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 25.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 47,480 shares of the company’s stock after acquiring an additional 9,498 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Okta were worth $9,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of Okta by 11.9% in the third quarter. Versant Capital Management Inc now owns 563 shares of the company’s stock valued at $118,000 after purchasing an additional 60 shares during the period. MGO One Seven LLC boosted its holdings in Okta by 3.9% in the 3rd quarter. MGO One Seven LLC now owns 1,614 shares of the company’s stock worth $338,000 after buying an additional 60 shares during the period. Ethic Inc. grew its stake in Okta by 0.4% in the 3rd quarter. Ethic Inc. now owns 16,349 shares of the company’s stock valued at $3,419,000 after buying an additional 63 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in Okta by 64.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after buying an additional 77 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in Okta by 1.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,817 shares of the company’s stock valued at $1,007,000 after buying an additional 78 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: ETFs bought about $99.5 million of Okta shares on Wednesday, with 36 funds buying versus 15 selling. In a related report, the Invesco S&P 500 Equal Weight Technology ETF initiated an $89.1 million position in Okta, making it its only addition while trimming 74 other holdings. The buying may offer support, though both reports refer to Wednesday’s activity. ETF buying article Invesco RSPT article
• Negative Sentiment: Okta shares declined alongside other software names as Wall Street retreated from AI-associated stocks, a rotation that hit recent software winners. This broad sector-driven selling was a key near-term headwind. Software sell-off article
• Negative Sentiment: A Seeking Alpha contributor downgraded Okta to Sell, arguing that its valuation bubble may be deflating. The bearish valuation view could weigh on sentiment, particularly amid the wider pullback in software stocks. Seeking Alpha downgrade

Wall Street Analyst Weigh In

OKTA has been the topic of several recent research reports. BTIG Research restated a “buy” rating and set a $219.00 target price on shares of Okta in a research report on Thursday, September 24th. Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a research report on Monday, October 12th. Piper Sandler lifted their price target on Okta from $105.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Needham & Company LLC boosted their price objective on Okta from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Finally, Stephens boosted their price objective on Okta from $190.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.38.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $168.69 on Monday. The firm has a fifty day moving average price of $196.81 and a two-hundred day moving average price of $126.92. Okta, Inc. has a one year low of $62.66 and a one year high of $235.00. The company has a market cap of $29.49 billion, a price-to-earnings ratio of 101.62, a PEG ratio of 5.25 and a beta of 0.74.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping 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 firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’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. Equities research analysts expect that Okta, Inc. will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Okta news, CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the transaction, the chief executive officer directly owned 44,029 shares in the company, valued at $8,518,730.92. This represents a 52.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the sale, the insider directly owned 18,668 shares in the company, valued at approximately $3,427,071.44. The trade was a 25.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,766 shares of company stock worth $23,927,112 over the last ninety days. 4.61% of the stock is owned by corporate insiders.

Okta Profile

Okta, Inc provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources.

Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta serves organizations around the world across a range of industries.