Alyeska Investment Group L.P. Has $110.47 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Okta, Inc. by 40.8%, owning approximately 1,049,891 shares valued at $110 million after selling 722,860 shares in the first quarter.
• Several institutional investors, including TD Private Client Wealth LLC and Allworth Financial LP, have increased their holdings in Okta during the same period, indicating sustained interest in the company.
• Okta reported quarterly earnings with an EPS of $0.91, surpassing analysts' expectations, and has set its FY 2026 guidance at $3.330-3.380 EPS.

Alyeska Investment Group L.P. trimmed its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 40.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,049,891 shares of the company's stock after selling 722,860 shares during the period. Alyeska Investment Group L.P. owned approximately 0.60% of Okta worth $110,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Alkeon Capital Management LLC acquired a new position in shares of Okta in the 1st quarter valued at $199,918,000. Federation des caisses Desjardins du Quebec increased its position in Okta by 558.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 31,172 shares of the company's stock worth $3,280,000 after purchasing an additional 26,438 shares during the period. Perbak Capital Partners LLP purchased a new position in Okta in the first quarter worth $203,000. PDT Partners LLC purchased a new stake in Okta during the first quarter worth about $2,168,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Okta in the 1st quarter worth approximately $515,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $1.74 during trading on Friday, hitting $91.48. The company 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 business's 50-day moving average is $94.16 and its 200 day moving average is $102.03. The company has a market cap of $16.02 billion, a P/E ratio of 107.62, a PEG ratio of 4.37 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period in the previous year, the firm earned $0.72 earnings per share. Okta's revenue for the quarter was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the sale, the insider directly owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents 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 through this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was 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 of the company's stock, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKTA. Arete initiated coverage on shares of Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective on the stock. BMO Capital Markets lowered their target price on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Westpark Capital restated a "buy" rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, August 27th. Mizuho reduced their target price on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Finally, Citigroup reiterated a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $118.25.

About Okta

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.