Ieq Capital LLC Boosts Stake in Okta, Inc. $OKTA

Key Points

• Ieq Capital LLC has increased its stake in Okta, Inc. by 25.8% during the 1st quarter, now owning 123,315 shares valued at approximately $12.98 million.
• Multiple institutional investors, including Vanguard Group and Massachusetts Financial Services, have also significantly increased their holdings in Okta, showcasing strong institutional confidence in the company's future.
• Okta reported a 12.7% increase in revenue compared to the same quarter last year, with earnings per share of $0.91, exceeding analysts' expectations of $0.84.

Ieq Capital LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 25.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 123,315 shares of the company's stock after purchasing an additional 25,327 shares during the period. Ieq Capital LLC owned 0.07% of Okta worth $12,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OKTA. Vanguard Group Inc. increased its position in Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after acquiring an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA increased its position in Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after acquiring an additional 2,830,582 shares during the period. Point72 Asset Management L.P. increased its position in Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after acquiring an additional 1,572,786 shares during the period. 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 acquiring an additional 100,411 shares during the period. Finally, Ninety One UK Ltd acquired a new position in Okta in the 1st quarter valued at about $189,915,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the chief executive officer directly owned 20,682 shares in the company, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 in the last quarter. Insiders own 5.68% of the company's stock.

Okta Stock Performance

OKTA opened at $93.03 on Thursday. The stock has a market cap of $16.29 billion, a P/E ratio of 109.45, a P/E/G ratio of 4.43 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The stock's 50 day simple moving average is $95.20 and its 200 day simple moving average is $102.32. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. Okta had a return on equity of 3.35% and a net margin of 6.08%.The company's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior 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, equities analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OKTA shares. Royal Bank Of Canada boosted their price target on Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday. Evercore ISI boosted their price target on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Okta in a research report on Wednesday. Stephens reissued an "equal weight" rating and set a $127.00 target price on shares of Okta in a research note on Tuesday, May 27th. Finally, Jefferies Financial Group lifted their price target on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Okta has an average rating of "Moderate Buy" and a consensus target price 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.

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