Alamar Capital Management LLC Reduces Stock Holdings in Okta, Inc. $OKTA

Key Points

• Alamar Capital Management cut its Okta stake by 38.7% in the second quarter, selling 13,828 shares and retaining 21,867 shares worth approximately $2.98 million.
• Despite the reduction, other institutional investors increased their positions, and institutions collectively own 86.64% of Okta’s shares.
• Okta exceeded quarterly expectations with $1.05 in EPS and $805 million in revenue, while analysts maintained a “Moderate Buy” consensus and a $172.92 average price target.

Alamar Capital Management LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,867 shares of the company's stock after selling 13,828 shares during the period. Okta accounts for approximately 1.5% of Alamar Capital Management LLC's portfolio, making the stock its 15th largest holding. Alamar Capital Management LLC's holdings in Okta were worth $2,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Okta in the fourth quarter valued at approximately $175,193,000. Allspring Global Investments Holdings LLC grew its stake in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock valued at $281,209,000 after buying an additional 1,485,963 shares in the last quarter. First Trust Advisors LP grew its stake in Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company's stock valued at $521,422,000 after buying an additional 1,326,051 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in Okta by 276.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company's stock valued at $128,701,000 after acquiring an additional 1,031,083 shares during the period. Finally, Swedbank AB raised its holdings in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company's stock valued at $157,296,000 after acquiring an additional 1,007,915 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Down 2.0%

NASDAQ:OKTA opened at $163.15 on Thursday. The company has a fifty day moving average of $144.34 and a 200 day moving average of $107.35. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $174.85. The firm has a market capitalization of $28.36 billion, a P/E ratio of 98.28, a P/E/G ratio of 5.23 and a beta of 0.79.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter last year, the firm earned $0.91 EPS. The company's revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, analysts anticipate that Okta, Inc. will post 1.9 EPS for the current year.

Analyst Ratings Changes

OKTA has been the subject of a number of recent analyst reports. Mizuho lifted their target price on Okta from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, August 27th. BTIG Research increased their target price on Okta from $167.00 to $187.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Piper Sandler increased their price target on shares of Okta from $105.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Guggenheim set a $188.00 price target on shares of Okta and gave the stock a "buy" rating in a research note on Thursday, August 27th. Finally, Wedbush restated an "outperform" rating and issued a $60.00 price objective on shares of Okta in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $172.92.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analysts and investors see a significant expansion opportunity as AI agents require identity verification, permissions, authentication and continuous security controls. Okta is positioning its identity platform to serve this emerging market beyond traditional human-user security. Okta Stock Has More Than Doubled in 2026. AI Agents Could Drive the Next Leg Higher.
• Positive Sentiment: Needham raised its Okta price target to $200, citing the potential for AI-agent growth to create a larger security opportunity. The new target adds to bullish analyst sentiment and implies further upside based on the provided trading context. Okta Stock Gets Stunning $200 Price Target Hike on AI Agent Growth
• Positive Sentiment: Additional coverage points to a new Street-high price target and suggests Okta may have more upside following its strong rally, reinforcing expectations that analysts are revising their outlooks higher. Okta Stock Just Got a New Street-High Price Target Okta Stock Could Have More Upside After Its 28% Rally, Analysts Say
• Positive Sentiment: Scotiabank increased its FY2027 EPS estimate to $1.91 from $1.74, slightly above the roughly $1.90 consensus, signaling improving expectations for Okta’s earnings outlook. Scotiabank raises Okta earnings estimate
• Neutral Sentiment: Coverage highlighting Okta among AI-powered cybersecurity stocks suggests that rising cyber threats and enterprise AI adoption could support long-term sector demand, but it does not represent a company-specific forecast or announcement. Top AI-Powered Security Stocks Worth Buying Amid Rising Cyber Threats
• Negative Sentiment: Okta and other software and cybersecurity stocks faced selling pressure as Middle East geopolitical tensions and rising global bond yields reduced investor appetite for riskier growth stocks. Okta, Datadog, JFrog, Zscaler, and Elastic Shares Are Falling, What You Need To Know

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company's stock, valued at $2,238,413.80. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider owned 25,241 shares of the company's stock, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 140,376 shares of company stock valued at $18,477,982. Company insiders own 4.61% of the company's stock.

Okta Company Profile

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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