Arete Wealth Advisors LLC Makes New Investment in Okta, Inc. $OKTA

Key Points

• Arete Wealth Advisors LLC has acquired 3,500 shares of Okta, Inc., valued at approximately $368,000, during the first quarter.
• Shares of Okta are currently trading down by 3.9%, with a market capitalization of $15.79 billion and a 52-week price range between $70.81 and $127.57.
• CEO Todd Mckinnon sold 31,592 shares of Okta in July, indicating a significant decrease in his share ownership, as insiders sold a total of 88,594 shares over the last quarter.

Arete Wealth Advisors LLC acquired a new stake 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 SEC. The firm acquired 3,500 shares of the company's stock, valued at approximately $368,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after buying an additional 2,830,582 shares in the last quarter. Point72 Asset Management L.P. grew its position in Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after acquiring an additional 1,572,786 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Okta by 5.2% during the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock worth $211,982,000 after acquiring an additional 100,411 shares in the last quarter. Finally, Alkeon Capital Management LLC bought a new stake in shares of Okta in the 1st quarter worth approximately $199,918,000. 86.64% of the stock is owned by institutional investors.

Insider Activity

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer owned 132,288 shares of the company's stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the sale, the chief executive officer directly owned 20,682 shares in the company, valued at $1,970,994.60. This represents a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. Company insiders own 5.68% of the company's stock.

Okta Stock Performance

Shares of Okta stock traded down $1.62 during midday trading on Friday, reaching $90.34. 1,810,006 shares of the company's stock traded hands, compared to its average volume of 4,403,944. The stock has a 50 day moving average of $93.45 and a 200-day moving average of $101.98. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The company has a market cap of $15.82 billion, a PE ratio of 106.28, a price-to-earnings-growth ratio of 4.48 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same period in the previous year, the firm earned $0.72 EPS. The company's quarterly revenue 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, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group decreased their target price on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Arete started coverage on Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 target price for the company. Citigroup restated a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Guggenheim reiterated a "buy" rating and issued a $138.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Finally, Evercore ISI increased their price objective on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta 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.