Alamar Capital Management LLC Purchases Shares of 35,695 Okta, Inc. $OKTA

Alamar Capital Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,695 shares of the company's stock, valued at approximately $2,810,000. Okta comprises approximately 1.7% of Alamar Capital Management LLC's holdings, making the stock its 12th largest position.

Other large investors have also recently made changes to their positions in the company. SHP Wealth Management bought a new stake in Okta during the 4th quarter worth approximately $27,000. Torren Management LLC bought a new position in shares of Okta in the fourth quarter valued at approximately $32,000. Spire Wealth Management lifted its holdings in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Okta during the fourth quarter valued at approximately $56,000. Finally, Assetmark Inc. boosted its position in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company's stock valued at $57,000 after buying an additional 322 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is being highlighted by multiple outlets as a strong momentum stock, suggesting investor interest remains high despite the pullback. Article Title
• Positive Sentiment: Analysts continue to point to Okta as a beneficiary of rising enterprise AI adoption, which is supporting demand for cybersecurity, identity protection, and zero-trust tools. Article Title
• Positive Sentiment: Recent commentary around the AI era of cybersecurity, including the OpenAI hack discussion, reinforces the broader theme that spending on security may rise alongside AI investment. Article Title
• Neutral Sentiment: Okta remains one of the more widely watched stocks on Zacks, and that attention may help keep trading volume and volatility elevated. Article Title
• Negative Sentiment: The recent drop appears tied to no fresh negative company announcement, making the move more consistent with a post-rally cooling-off period and broader software-sector caution. Article Title
• Negative Sentiment: Some market participants are also worried that enterprise tech budgets could shift toward AI infrastructure, which may weigh on software spending expectations across the sector. Article Title

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Okta from a "buy" rating to a "buy" rating in a research note on Monday, July 6th. The Goldman Sachs Group began coverage on shares of Okta in a report on Monday, July 6th. They issued a "buy" rating for the company. BMO Capital Markets raised their price target on shares of Okta from $95.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. BTIG Research boosted their price target on shares of Okta from $119.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Oppenheimer upped their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.81.

Okta Price Performance

Shares of OKTA stock opened at $136.69 on Thursday. The stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 99.05, a PEG ratio of 5.10 and a beta of 0.77. The company's fifty day simple moving average is $121.98 and its two-hundred day simple moving average is $95.28. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts anticipate that Okta, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,463 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the transaction, the insider directly owned 25,241 shares in the company, valued at $3,028,920. This represents a 8.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares in the company, valued at approximately $14,032,480. The trade was a 35.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,224 shares of company stock valued at $22,534,353 in the last ninety days. 4.61% of the stock is owned by insiders.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta's offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.

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