FORA Capital LLC Takes Position in Okta, Inc. $OKTA

Key Points

• FORA Capital LLC has acquired a new stake in Okta, Inc., purchasing 56,060 shares valued at approximately $5,899,000 in the first quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services, have increased their stakes in Okta, now holding 86.64% of the company's stock.
• Wall Street analysts have mixed opinions on Okta, with a consensus rating of "Hold" and a price target averaging $118.61, while Truist Financial raised its price target to $125.00.

FORA Capital LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 56,060 shares of the company's stock, valued at approximately $5,899,000.

Several other large investors also recently added to or reduced their stakes in OKTA. Vanguard Group Inc. boosted its holdings in shares of Okta by 3.4% in the 1st 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 period. Massachusetts Financial Services Co. MA lifted its position 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 during the last quarter. Point72 Asset Management L.P. boosted its stake 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 worth $176,271,000 after buying an additional 1,572,786 shares during the period. Ameriprise Financial Inc. increased its position in Okta by 5.2% during the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after acquiring an additional 100,411 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Okta in the first quarter valued at $189,915,000. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OKTA shares. Guggenheim reissued a "buy" rating and issued a $138.00 price objective on shares of Okta in a research report on Wednesday. Bank of America reaffirmed an "underperform" rating and issued a $75.00 price objective on shares of Okta in a research report on Wednesday. UBS Group reduced their target price on Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Canaccord Genuity Group upgraded Okta from a "hold" rating to a "buy" rating and lifted their target price for the stock from $115.00 to $120.00 in a research report on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and set a $125.00 target price on shares of Okta in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.25.

Okta Stock Down 0.5%

Shares of OKTA traded down $0.44 during mid-day trading on Thursday, hitting $92.59. The company's stock had a trading volume of 7,073,265 shares, compared to its average volume of 3,983,655. The company has a current ratio of 1.35, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The company's 50-day moving average is $95.07 and its 200-day moving average is $102.29. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of 108.93, a PEG ratio of 4.46 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating 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 the consensus estimate of $711.84 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm'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, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 9,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the completion of the transaction, the executive directly owned 7,067 shares in the company, valued at $706,700. The trade was a 56.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This trade represents 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 worth $8,382,790 over the last three months. Corporate insiders own 5.68% of the company's stock.

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.