GFG Capital LLC Invests $1.89 Million in Okta, Inc. $OKTA

Key Points

• GFG Capital LLC invested approximately $1.89 million in Okta, acquiring 18,901 shares of the company's stock.
• Institutional investors own 86.64% of Okta's stock, highlighting strong interest in the company among major financial players.
• Okta's stock has experienced a 52-week range of $70.92 to $127.57, with a current opening price of $92.63.

GFG Capital LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,901 shares of the company's stock, valued at approximately $1,890,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 582,956 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 acquiring an additional 2,830,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 acquiring an additional 1,189,222 shares during the period. Ninety One UK Ltd grew its holdings in Okta by 52.1% during the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company's stock worth $274,370,000 after acquiring an additional 939,589 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Okta by 5.2% in the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after buying an additional 100,411 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKTA. Barclays raised their price target on shares of Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Arete started coverage on shares of Okta in a research report on Monday, July 7th. They set a "sell" rating and a $83.00 target price on the stock. Westpark Capital reissued a "buy" rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, August 27th. BMO Capital Markets dropped their target price on shares of Okta from $132.00 to $112.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 27th. Finally, Robert W. Baird dropped their target price on shares of Okta from $142.00 to $135.00 and set an "outperform" rating on the stock in a research report on Monday, September 29th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.94.

Okta Stock Performance

NASDAQ OKTA opened at $92.63 on Thursday. Okta, Inc. has a 52-week low of $70.92 and a 52-week high of $127.57. The company has a market capitalization of $16.22 billion, a P/E ratio of 108.98, a P/E/G ratio of 4.46 and a beta of 0.84. The company has a fifty day moving average of $92.11 and a 200-day moving average of $100.21.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. As a group, analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 3,348 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the completion of the sale, the insider directly owned 39,155 shares of the company's stock, valued at $3,530,606.35. The trade was a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 6,091 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares of the company's stock, valued at $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,003 shares of company stock valued at $13,769,238 over the last three months. 5.68% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.