Graham Capital Management L.P. Buys 37,710 Shares of Okta, Inc. $OKTA

Key Points

• Graham Capital Management L.P. significantly increased its stake in Okta, Inc. by 333.7% during Q1, acquiring an additional 37,710 shares, bringing its total holdings to 49,011 shares valued at approximately $5.16 million.
• Several other institutional investors also expanded their positions in Okta, including TD Private Client Wealth LLC, which raised its stake by 19.6%.
• Wall Street analysts have diverse opinions on Okta, with the stock receiving multiple ratings of Buy and a consensus price target averaging at $118.25.

Graham Capital Management L.P. grew its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 333.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,011 shares of the company's stock after purchasing an additional 37,710 shares during the period. Graham Capital Management L.P.'s holdings in Okta were worth $5,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OKTA. Massachusetts Financial Services Co. MA raised its position in shares of Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Ameriprise Financial Inc. increased its holdings in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after acquiring an additional 1,828,630 shares during the period. Ninety One UK Ltd bought a new stake in Okta during the 1st quarter worth approximately $189,915,000. Alyeska Investment Group L.P. increased its holdings in Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after acquiring an additional 1,699,176 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after acquiring an additional 1,572,786 shares during the period. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

Okta stock traded up $0.32 during mid-day trading on Wednesday, reaching $89.82. 3,413,872 shares of the company traded hands, compared to its average volume of 4,375,255. The firm's 50 day moving average price is $94.47 and its 200 day moving average price is $102.11. The firm has a market capitalization of $15.72 billion, a price-to-earnings ratio of 105.67, a P/E/G ratio of 4.52 and a beta of 0.83. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

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

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the transaction, the chief executive officer directly owned 20,682 shares in the company, valued at $1,970,994.60. This represents a 60.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,594 shares of company stock valued at $8,382,790. 5.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OKTA has been the topic of a number of analyst reports. Arete initiated coverage on shares of Okta in a report on Monday, July 7th. They set a "sell" rating and a $83.00 target price on the stock. Roth Capital reissued a "buy" rating and issued a $119.00 price target on shares of Okta in a report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Okta in a report on Wednesday, August 27th. Scotiabank decreased their price target on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 27th. Finally, Citigroup reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus 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.