Avity Investment Management Inc. Has $542,000 Holdings in Okta, Inc. $OKTA

Key Points

• Avity Investment Management Inc. increased its holdings in Okta, Inc. by 167.9% during the 2nd quarter, bringing their total investment to $542,000.
• Several major hedge funds, including Vanguard Group Inc. and Massachusetts Financial Services, also significantly raised their stakes in Okta, reflecting growing institutional interest.
• Okta recently reported better-than-expected earnings, with an EPS of $0.91 for the quarter, surpassing analysts' estimates and indicating a 12.7% revenue growth compared to the same quarter last year.

Avity Investment Management Inc. increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 167.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,425 shares of the company's stock after buying an additional 3,400 shares during the quarter. Avity Investment Management Inc.'s holdings in Okta were worth $542,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after buying an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Okta by 325.6% during the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock worth $289,234,000 after buying an additional 1,189,222 shares during the period. Ameriprise Financial Inc. raised its stake in Okta by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock worth $211,982,000 after buying an additional 100,411 shares during the period. Finally, Alkeon Capital Management LLC acquired a new stake in Okta during the 1st quarter worth $199,918,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 31,592 shares of Okta 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 transaction, the chief executive officer owned 20,682 shares in the company, valued at approximately $1,970,994.60. This trade represents a 60.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction dated Tuesday, July 15th. The stock was 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 of the company's stock, valued at $646,709.64. The trade was a 69.46% 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 in the last three months. Corporate insiders own 5.68% of the company's stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $90.34 on Monday. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 106.28, a PEG ratio of 4.40 and a beta of 0.83. The business has a 50-day moving average of $93.45 and a 200-day moving average of $102.16. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKTA shares. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price target on the stock in a research note on Monday, July 7th. DA Davidson dropped their price target on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Okta in a research note on Wednesday, August 27th. JPMorgan Chase & Co. lifted their price target on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Stephens reissued an "equal weight" rating and issued a $127.00 price target on shares of Okta in a research note on Tuesday, May 27th. Twenty-two investment 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 stock has an average rating of "Moderate Buy" and an average price target of $118.25.

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.

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