Granahan Investment Management LLC Raises Stock Holdings in Okta, Inc. $OKTA

Key Points

• Granahan Investment Management LLC increased its stake in Okta, Inc. by 7.9%, bringing its total ownership to 54,862 shares valued at approximately $5.77 million as of the latest SEC filing.
• Several other institutional investors have also significantly increased their holdings in Okta, with Massachusetts Financial Services Co. MA raising its stake by 325.6%, now owning approximately 3.7 million shares.
• Okta recently posted quarterly earnings of $0.91 per share, exceeding expectations, and reported a 12.7% increase in revenue compared to the same quarter last year.

Granahan Investment Management LLC grew its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,862 shares of the company's stock after purchasing an additional 4,010 shares during the period. Granahan Investment Management LLC's holdings in Okta were worth $5,773,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Eventide Asset Management LLC bought a new stake in shares of Okta in the first quarter worth $230,000. AQR Capital Management LLC grew its holdings in shares of Okta by 21.5% in the first quarter. AQR Capital Management LLC now owns 1,032,042 shares of the company's stock worth $107,755,000 after acquiring an additional 182,400 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Okta by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company's stock worth $113,000 after acquiring an additional 120 shares during the period. Alkeon Capital Management LLC bought a new stake in shares of Okta in the first quarter worth $199,918,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of Okta by 558.5% in the first quarter. Federation des caisses Desjardins du Quebec now owns 31,172 shares of the company's stock worth $3,280,000 after acquiring an additional 26,438 shares during the period. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the sale, the chief executive officer owned 20,682 shares in the company, valued at approximately $1,970,994.60. This trade represents a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 in the last ninety days. Company insiders own 5.68% of the company's stock.

Okta Trading Up 1.3%

Shares of NASDAQ:OKTA traded up $1.20 during mid-day trading on Monday, reaching $92.68. The stock had a trading volume of 2,346,705 shares, compared to its average volume of 4,610,761. The company has a market cap of $16.23 billion, a P/E ratio of 109.04, a price-to-earnings-growth ratio of 4.46 and a beta of 0.83. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The business's 50 day moving average price is $94.02 and its 200 day moving average price is $102.11.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on OKTA. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Okta in a report on Wednesday, August 27th. Roth Capital reissued a "buy" rating and set a $119.00 price target on shares of Okta in a report on Wednesday, May 28th. Citigroup reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Robert W. Baird cut their price target on Okta from $148.00 to $142.00 and set an "outperform" rating for the company in a report on Wednesday, August 27th. Finally, Evercore ISI boosted their price target on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $118.25.

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.