Mirae Asset Global Investments Co. Ltd. Buys 3,165 Shares of Okta, Inc. $OKTA

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Okta by 44.9%, bringing its total holdings to 10,215 shares valued at approximately $1.021 million.
• Okta reported a quarterly earnings per share (EPS) of $0.91, exceeding analysts' expectations of $0.84, with revenues of $728 million, a 12.7% year-over-year increase.
• Institutional investors now own 86.64% of Okta's stock, reflecting strong confidence in the company's market position and future growth potential.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 44.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,215 shares of the company's stock after purchasing an additional 3,165 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Okta were worth $1,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKTA. Farther Finance Advisors LLC lifted its stake in Okta by 283.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,228 shares of the company's stock valued at $233,000 after purchasing an additional 1,647 shares during the last quarter. Yousif Capital Management LLC bought a new position in Okta in the 1st quarter valued at approximately $222,000. GAMMA Investing LLC increased its position in Okta by 255.3% in the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the company's stock valued at $126,000 after acquiring an additional 863 shares during the period. Assenagon Asset Management S.A. increased its position in Okta by 110.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 125,948 shares of the company's stock valued at $13,252,000 after acquiring an additional 65,997 shares during the period. Finally, CX Institutional acquired a new position in Okta in the 1st quarter valued at approximately $52,000. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $93.64 on Friday. The stock has a market capitalization of $16.39 billion, a P/E ratio of 110.16, a P/E/G ratio of 4.55 and a beta of 0.84. The company has a 50-day moving average price of $92.02 and a 200-day moving average price of $100.06. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKTA. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Okta in a research report on Wednesday, August 27th. Canaccord Genuity Group upgraded shares of Okta from a "hold" rating to a "buy" rating and upped their price target for the company from $115.00 to $120.00 in a research report on Tuesday, August 26th. Arete began coverage on shares of Okta in a research report on Monday, July 7th. They issued a "sell" rating and a $83.00 price target for the company. Royal Bank Of Canada restated an "outperform" rating and issued a $115.00 price target on shares of Okta in a research report on Friday, September 26th. Finally, JMP Securities restated a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.94.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 3,348 shares of the stock in a transaction dated 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 owned 39,155 shares in the company, valued at approximately $3,530,606.35. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares of the company's stock, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,003 shares of company stock worth $13,769,238. Company insiders own 5.68% of the company's stock.

About Okta

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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