AG2R LA Mondiale Gestion D Actifs Buys Shares of 8,346 Okta, Inc. $OKTA

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in Okta, Inc. valued at approximately $861,000, purchasing 8,346 shares in the first quarter.
• Multiple hedge funds have significantly increased their positions in Okta, with Massachusetts Financial Services boosting its stake by 325.6%. Institutional investors now own 86.64% of the company's stock.
• Okta's stock recently received updated ratings from analysts, including downgrades from Zacks and Scotiabank, reflecting recent shifts in market sentiment about the company's future performance.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,346 shares of the company's stock, valued at approximately $861,000.

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its stake in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Okta in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. increased its position in shares of Okta by 152.4% in the 1st 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 last quarter. Rossby Financial LCC purchased a new stake in shares of Okta in the 1st quarter valued at approximately $31,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta in the 4th quarter valued at approximately $40,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of OKTA stock traded down $1.47 during mid-day trading on Friday, hitting $92.13. The stock had a trading volume of 672,923 shares, compared to its average volume of 3,662,956. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The firm has a market cap of $16.13 billion, a PE ratio of 108.53, a PEG ratio of 4.39 and a beta of 0.83. The company's 50-day simple moving average is $92.97 and its 200-day simple moving average is $102.04.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $0.72 EPS. The business's revenue 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 expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 31,592 shares of the firm's 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 sale, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. This trade represents a 60.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive owned 7,067 shares of the company's stock, valued at $706,700. This trade represents a 56.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,664 shares of company stock worth $7,991,279 over the last three months. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent analyst reports. Westpark Capital reissued a "buy" rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Robert W. Baird dropped their price objective on shares of Okta from $148.00 to $142.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 27th. Stephens reissued an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a research report on Tuesday, May 27th. Citigroup reissued a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta Company 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.