Eurizon Capital SGR S.p.A. Acquires Shares of 36,094 Okta, Inc. $OKTA

Key Points

• Eurizon Capital SGR opened a new position in Okta in the fourth quarter, buying 36,094 shares worth about $3.12 million.
• Okta recently reported better-than-expected quarterly results, with EPS of $0.91 versus $0.85 expected and revenue of $765 million, up 11.2% year over year.
• Analyst sentiment remains mostly positive, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $111.86.

Eurizon Capital SGR S.p.A. acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 36,094 shares of the company's stock, valued at approximately $3,122,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its position in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Torren Management LLC acquired a new position in Okta during the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd acquired a new position in Okta during the 3rd quarter valued at about $34,000. Westside Investment Management Inc. lifted its position in Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company's stock valued at $38,000 after purchasing an additional 193 shares during the period. Finally, Spire Wealth Management lifted its position in Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider directly owned 15,470 shares in the company, valued at $1,237,600. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 1,054 shares of Okta stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $84,320.00. Following the completion of the sale, the insider owned 48,448 shares in the company, valued at $3,875,840. This trade represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 70,884 shares of company stock valued at $5,625,648 over the last ninety days. Insiders own 4.61% of the company's stock.

Okta Stock Performance

Shares of OKTA stock opened at $139.79 on Tuesday. The company has a market capitalization of $24.73 billion, a P/E ratio of 101.30, a price-to-earnings-growth ratio of 4.78 and a beta of 0.59. The company's 50 day moving average price is $81.09 and its two-hundred day moving average price is $83.33. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $142.35.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period last year, the company earned $0.86 earnings per share. The firm's revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Analysts forecast that Okta, Inc. will post 1.61 earnings per share for the current year.

Analysts Set New Price Targets

OKTA has been the topic of a number of research reports. Cantor Fitzgerald upped their target price on shares of Okta from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Okta from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, March 5th. Berenberg Bank upped their target price on shares of Okta from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Friday. Arete Research set a $127.00 target price on shares of Okta and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $134.00 target price on shares of Okta in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average price target of $111.86.

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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