Aberdeen Group plc Purchases 7,088 Shares of Okta, Inc. $OKTA

Key Points

• Aberdeen Group plc increased its stake in Okta, Inc. by 6.8% in the second quarter, acquiring an additional 7,088 shares for a total of 110,742 shares valued at approximately $11.07 million.
• Okta reported earnings of $0.91 per share for the last quarter, exceeding estimates and showing a 12.7% year-over-year revenue growth.
• Currently, approximately 86.64% of Okta's stock is owned by institutional investors, reflecting strong institutional interest in the company.

Aberdeen Group plc raised its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 110,742 shares of the company's stock after buying an additional 7,088 shares during the period. Aberdeen Group plc owned about 0.06% of Okta worth $11,071,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the last quarter. Trek Financial LLC bought a new position in shares of Okta in the 1st quarter worth $426,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Okta during the first quarter worth $515,000. Stephens Investment Management Group LLC grew its stake in shares of Okta by 10.4% during the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after purchasing an additional 46,818 shares during the period. Finally, Machina Capital S.A.S. grew its stake in shares of Okta by 63.1% during the first quarter. Machina Capital S.A.S. now owns 7,727 shares of the company's stock worth $813,000 after purchasing an additional 2,988 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Down 0.8%

OKTA stock opened at $88.35 on Thursday. The business's 50-day moving average price is $91.43 and its two-hundred day moving average price is $99.42. The firm has a market cap of $15.47 billion, a PE ratio of 103.94, a P/E/G ratio of 4.37 and a beta of 0.84. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OKTA. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price objective for the company in a research note on Monday, July 7th. BMO Capital Markets decreased their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research note on Wednesday, August 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Okta in a research note on Friday, September 26th. Citigroup reiterated a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Finally, Scotiabank reduced their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $118.94.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 1,318 shares of Okta stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the sale, the insider owned 37,837 shares of the company's stock, valued at $3,467,761.05. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the completion of the sale, the insider directly owned 9,174 shares in the company, valued at $841,531.02. This represents a 20.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,249 shares of company stock worth $10,759,471. 5.68% of the stock is currently owned by company insiders.

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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