3,524 Shares in Okta, Inc. $OKTA Bought by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired 3,524 shares of Okta, Inc. valued at approximately $352,000, indicating growing institutional interest in the stock.
• CEO Todd Mckinnon sold a significant number of shares, reducing his ownership by 60.44% after selling 31,592 shares for over $3 million.
• Analysts remain positive on Okta, with a consensus target price of $118.25 and many maintaining "buy" ratings, reflecting expectations for strong performance ahead.

Financiere des Professionnels Fonds d investissement inc. bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,524 shares of the company's stock, valued at approximately $352,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after acquiring an additional 4,171 shares during the last quarter. Trek Financial LLC bought a new position in shares of Okta in the 1st quarter valued at about $426,000. Merit Financial Group LLC bought a new position in shares of Okta in the 1st quarter valued at about $823,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Okta in the 1st quarter valued at about $515,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the sale, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares of the company's stock, valued at $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,012 shares of company stock valued at $8,293,168 over the last quarter. Insiders own 5.68% of the company's stock.

Okta Stock Performance

OKTA traded down $0.23 during trading on Friday, hitting $93.37. The stock had a trading volume of 5,821,676 shares, compared to its average volume of 4,417,496. The company has a market capitalization of $16.35 billion, a PE ratio of 109.85, a PEG ratio of 4.57 and a beta of 0.83. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The stock has a 50 day simple moving average of $93.00 and a two-hundred day simple moving average of $101.84.

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

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Zacks Research downgraded shares of Okta from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Stephens reaffirmed an "equal weight" rating and issued a $127.00 price target on shares of Okta in a report on Tuesday, May 27th. DA Davidson lowered their price target on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Scotiabank reduced their price objective on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.25.

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.