33,600 Shares in Okta, Inc. $OKTA Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,600 shares of the company's stock, valued at approximately $3,359,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after buying an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC acquired a new stake in Okta in the 1st quarter valued at $199,918,000. Ninety One UK Ltd purchased a new stake in Okta in the 1st quarter worth $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Okta by 76.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock worth $289,234,000 after acquiring an additional 1,189,222 shares during the period. Finally, PointState Capital LP purchased a new position in Okta during the first quarter valued at $78,094,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

OKTA opened at $87.04 on Thursday. The stock has a market capitalization of $15.24 billion, a PE ratio of 102.40, a P/E/G ratio of 4.39 and a beta of 0.84. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The business's 50 day moving average price is $91.15 and its 200 day moving average price is $98.95.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. 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, equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares in the company, valued at $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 8,522 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.62, for a total transaction of $789,307.64. Following the completion of the transaction, the insider owned 9,174 shares in the company, valued at approximately $849,695.88. This represents a 48.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,657 shares of company stock valued at $6,798,754 over the last quarter. 5.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OKTA shares. Needham & Company LLC reissued a "buy" rating and set a $125.00 target price on shares of Okta in a report on Wednesday, August 27th. Weiss Ratings restated a "hold (c-)" rating on shares of Okta in a report on Wednesday, October 8th. Barclays upped their target price on shares of Okta from $100.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Guggenheim reiterated a "buy" rating and issued a $138.00 target price on shares of Okta in a research report on Wednesday, August 27th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Hold" and a consensus target price of $118.94.

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.

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