17,730 Shares in Okta, Inc. $OKTA Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG purchased 17,730 shares of Okta, Inc. for approximately $1.77 million, highlighting ongoing interest from institutional investors in the stock.
• Okta reported earnings of $0.91 EPS for the last quarter, exceeding analysts' expectations and showing a 12.7% revenue increase compared to the previous year.
• Analyst ratings for Okta vary, with the consensus currently holding a "Hold" rating and an average target price of $118.94, reflecting mixed opinions on the stock's future performance.

J. Safra Sarasin Holding AG purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,730 shares of the company's stock, valued at approximately $1,772,000.

Several other hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC lifted its stake in shares of Okta by 167.4% in the 1st 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 period. Wayfinding Financial LLC acquired a new stake in Okta in the first quarter valued at about $27,000. Harbour Investments Inc. lifted its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after purchasing an additional 157 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in Okta in the second quarter valued at about $26,000. Finally, Rossby Financial LCC acquired a new stake in Okta in the first quarter valued at about $31,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 1.7%

Shares of OKTA opened at $93.30 on Friday. The stock has a market cap of $16.33 billion, a P/E ratio of 109.76, a PEG ratio of 4.66 and a beta of 0.84. The company has a 50-day moving average of $92.49 and a two-hundred day moving average of $100.65. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

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

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent analyst reports. Zacks Research cut Okta from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. DA Davidson reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Friday, September 26th. Wall Street Zen raised Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Scotiabank reduced their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a report on Wednesday, August 27th. Finally, Arete Research upgraded shares of Okta to a "strong sell" rating and set a $83.00 price objective for the company in a research note on Monday, July 7th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $118.94.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 31,968 shares of the company'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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric Robert Kelleher sold 2,410 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,003 shares of company stock worth $12,819,238 in the last quarter. Insiders own 5.68% of the company's stock.

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.

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