Alamar Capital Management LLC Acquires 9,860 Shares of Okta, Inc. $OKTA

Key Points

• Alamar Capital Management LLC increased its stake in Okta, Inc. by 31.1%, now holding 41,590 shares valued at approximately $4.38 million.
• CEO Todd Mckinnon sold 31,592 shares of Okta at an average price of $95.30, significantly decreasing his ownership by 60.44%.
• Okta's latest earnings report showed an EPS of $0.91, beating projections and marking a 12.7% year-over-year revenue increase.

Alamar Capital Management LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 31.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,590 shares of the company's stock after buying an additional 9,860 shares during the period. Okta makes up 2.6% of Alamar Capital Management LLC's portfolio, making the stock its 11th biggest position. Alamar Capital Management LLC's holdings in Okta were worth $4,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional 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% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Okta during the first quarter worth about $27,000. Harbour Investments Inc. raised its position in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after purchasing an additional 157 shares during the period. Rossby Financial LCC bought a new position in shares of Okta during the 1st quarter valued at about $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Okta during the 4th quarter valued at about $40,000. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive owned 7,067 shares in the company, valued at $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock valued at $8,382,790 in the last ninety days. Insiders own 5.68% of the company's stock.

Okta Stock Up 1.9%

Shares of NASDAQ:OKTA traded up $1.74 during mid-day trading on Friday, reaching $91.48. 3,277,615 shares of the stock were exchanged, compared to its average volume of 3,746,171. The company has a market cap of $16.02 billion, a P/E ratio of 107.62, a P/E/G ratio of 4.38 and a beta of 0.83. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The stock's 50 day simple moving average is $94.30 and its 200-day simple moving average is $102.06.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. Okta'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. Analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKTA shares. Royal Bank Of Canada lifted their price objective on Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. The Goldman Sachs Group lifted their price objective on Okta from $123.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Canaccord Genuity Group upgraded Okta from a "hold" rating to a "buy" rating and lifted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Mizuho cut their price objective on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Finally, Jefferies Financial Group lifted their price objective on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.