Alkeon Capital Management LLC Takes Position in Okta, Inc. $OKTA

Key Points

• Alkeon Capital Management LLC has invested approximately $199.9 million in Okta, Inc. by purchasing 1.9 million shares, owning 1.09% of the company as of the latest SEC filing.
• Analysts have a consensus rating of "Moderate Buy" for Okta, with target prices ranging from $83.00 to $140.00, reflecting varied optimism about the stock's future performance.
• Okta reported earnings of $0.91 per share for the last quarter, surpassing expectations, and projected FY 2026 EPS between $3.330 and $3.380.

Alkeon Capital Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900,000 shares of the company's stock, valued at approximately $199,918,000. Alkeon Capital Management LLC owned 1.09% of Okta as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OKTA. The Manufacturers Life Insurance Company lifted its holdings in shares of Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after acquiring an additional 136 shares during the period. Northern Trust Corp raised its position in Okta by 11.8% during the fourth quarter. Northern Trust Corp now owns 1,001,027 shares of the company's stock valued at $78,881,000 after purchasing an additional 105,918 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Okta by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after purchasing an additional 171 shares in the last quarter. Ameriprise Financial Inc. raised its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Okta during the fourth quarter valued at approximately $1,518,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research analyst reports. Evercore ISI boosted their price objective on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Mizuho lowered their price objective on shares of Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Stephens restated an "equal weight" rating and set a $127.00 price objective on shares of Okta in a research report on Tuesday, May 27th. Roth Capital restated a "buy" rating and set a $119.00 price objective on shares of Okta in a research report on Wednesday, May 28th. Finally, Arete Research upgraded shares of Okta to a "strong sell" rating and set a $83.00 target price on the stock in a research report on Monday, July 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.25.

Okta Price Performance

Shares of Okta stock traded up $1.74 during trading on Friday, hitting $91.48. The company's stock had a trading volume of 3,278,151 shares, compared to its average volume of 4,568,386. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 76.70, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. The stock has a 50-day moving average price of $94.30 and a two-hundred day moving average price of $102.06.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share 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 for the quarter, compared to analysts' expectations of $711.84 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Okta'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, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider owned 7,044 shares in the company, valued at $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% 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 over the last quarter. 5.68% of the stock is currently owned by company insiders.

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.