Scientech Research LLC Takes Position in Okta, Inc. $OKTA

Key Points

• Scientech Research LLC has acquired 14,479 shares of Okta, Inc., valued at approximately $1.5 million, marking a new position for the firm in the first quarter.
• Okta's stock opened at $91.48, with a market capitalization of $16.02 billion and analysts predicting an EPS of 0.42 for the current fiscal year.
• Recent insider selling saw the CRO and CFO of Okta sell significant portions of their holdings, highlighting potential changes in insider confidence, as they sold shares worth nearly $1.85 million.

Scientech Research LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,479 shares of the company's stock, valued at approximately $1,523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Okta in the 1st quarter valued at $27,000. Harbour Investments Inc. boosted its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after purchasing an additional 157 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Okta during the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Zacks Research lowered shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Arete Research upgraded Okta to a "strong sell" rating and set a $83.00 price target for the company in a research report on Monday, July 7th. Guggenheim reaffirmed a "buy" rating and issued a $138.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Wells Fargo & Company boosted their price objective on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.25.

Insider Transactions at Okta

In related news, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the transaction, the chief executive officer directly owned 20,682 shares of the company's stock, valued at approximately $1,970,994.60. This represents a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by corporate insiders.

Okta Stock Down 1.3%

Shares of OKTA traded down $1.21 during trading on Friday, reaching $90.75. 803,711 shares of the company traded hands, compared to its average volume of 3,703,167. The stock has a 50-day simple moving average of $93.62 and a 200-day simple moving average of $101.98. The stock has a market cap of $15.89 billion, a PE ratio of 106.83, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion during the quarter, compared to analysts' expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Okta Profile

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.