Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Okta, Inc. $OKTA

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Okta during the fourth quarter, buying 129,511 shares worth about $11.2 million.
• Okta continues to draw heavy institutional and insider activity: hedge funds own a large majority of the stock, and recent insider trades included a director buying shares while another insider sold shares under a 10b5-1 plan.
• Analyst sentiment remains generally positive, with Okta holding a Moderate Buy consensus and an average price target of $101.19; the company also recently beat quarterly EPS and revenue estimates and raised full-year guidance.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 129,511 shares of the company's stock, valued at approximately $11,199,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned approximately 0.07% of Okta as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in OKTA. Root Financial Partners LLC bought a new stake in Okta during the third quarter valued at $26,000. Elevation Wealth Partners LLC boosted its stake in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock valued at $26,000 after buying an additional 264 shares during the period. Torren Management LLC bought a new stake in Okta during the fourth quarter valued at $32,000. Aster Capital Management DIFC Ltd bought a new stake in Okta during the third quarter valued at $34,000. Finally, Westside Investment Management Inc. boosted its stake in Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company's stock valued at $38,000 after buying an additional 193 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Schellhase bought 3,712 shares of the stock in a transaction dated Thursday, April 16th. The stock was bought at an average price of $72.04 per share, with a total value of $267,412.48. Following the purchase, the director owned 3,712 shares in the company, valued at approximately $267,412.48. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 1,054 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $80.00, for a total value of $84,320.00. Following the completion of the sale, the insider directly owned 48,448 shares of the company's stock, valued at approximately $3,875,840. This trade represents a 2.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,384 shares of company stock worth $5,413,148 in the last 90 days. 4.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of several research analyst reports. Barclays lifted their price objective on Okta from $90.00 to $93.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Canaccord Genuity Group dropped their price target on Okta from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. TD Cowen dropped their price target on Okta from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Tuesday, February 24th. Piper Sandler dropped their price target on Okta from $100.00 to $82.00 and set a "neutral" rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings raised Okta from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Twenty-eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and an average target price of $101.19.

Okta Trading Down 1.5%

NASDAQ OKTA opened at $85.70 on Wednesday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.52. The stock has a 50-day moving average of $77.27 and a 200-day moving average of $82.51. The firm has a market cap of $15.16 billion, a PE ratio of 65.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.59.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. During the same quarter in the previous year, the company posted $0.78 EPS. Okta's revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, equities research analysts forecast that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: KeyBanc raised its price target on Okta to $103 from $95 and kept an Overweight rating, citing a stronger outlook for enterprise security spending in the second half of the year. Okta Price Target Bumped to $103 at KeyBanc as Security Spending Catches Fire
• Positive Sentiment: Oppenheimer said Okta could post 1% to 2% upside versus fiscal first-quarter revenue estimates, which suggests the company may have a modest near-term earnings/revenue beat. Okta Likely to Deliver Modest Fiscal Q1 Revenue Upside, Oppenheimer Says
• Positive Sentiment: Software stocks broadly rebounded as investors reassessed the sector after a year of AI-related valuation চাপ, helping improve sentiment toward names like Okta. US software stocks rebound, seeking to loosen AI's grip
• Positive Sentiment: Cybersecurity demand and digital transformation trends continue to support the industry backdrop for Okta alongside peers such as CrowdStrike and Fortinet. Zacks Industry Outlook Highlights CrowdStrike, Fortinet, Okta and Qualys
• Neutral Sentiment: Okta has also been highlighted as a trending stock, reflecting increased investor attention rather than a specific new fundamental catalyst. Okta, Inc. (OKTA) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: The stock also saw some volatility as recent gains faded, with one report noting it fell more than the broader market in the latest session. Here's Why Okta (OKTA) Fell More Than Broader Market

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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