Okta, Inc. $OKTA Shares Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its Okta stake by 6.1% in Q1, holding 137,420 shares worth about $10.8 million.
• Okta beat earnings and revenue expectations in its latest quarter, reporting EPS of $0.91 on revenue of $765 million, with revenue up 11.2% year over year.
• Insider activity was mixed: one executive sold shares under a 10b5-1 plan, while a director bought shares; meanwhile, analysts currently rate Okta a Moderate Buy with an average target price of $116.83.

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,420 shares of the company's stock after buying an additional 7,909 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.08% of Okta worth $10,816,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its position in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock worth $26,000 after acquiring an additional 264 shares during the period. SHP Wealth Management purchased a new position in shares of Okta in the fourth quarter worth about $27,000. Torren Management LLC purchased a new position in shares of Okta in the fourth quarter worth about $32,000. Spire Wealth Management raised its stake in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock worth $44,000 after purchasing an additional 119 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Okta during the fourth quarter worth about $52,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 0.7%

Shares of OKTA stock opened at $141.42 on Friday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $145.95. The business's 50 day moving average is $102.98 and its two-hundred day moving average is $89.65. The company has a market capitalization of $24.58 billion, a P/E ratio of 102.48, a P/E/G ratio of 5.05 and a beta of 0.77.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to analysts' expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business's revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts predict that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 24,971 shares of Okta stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider owned 23,477 shares in the company, valued at $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase bought 3,712 shares of the business's stock in a transaction dated Thursday, April 16th. The shares were bought at an average cost of $72.04 per share, with a total value of $267,412.48. Following the purchase, the director directly owned 3,712 shares of the company's stock, valued at approximately $267,412.48. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 111,665 shares of company stock valued at $12,935,522 in the last three months. Company insiders own 4.61% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent research reports. Weiss Ratings upgraded Okta from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 3rd. Wolfe Research began coverage on shares of Okta in a research report on Thursday, April 16th. They set an "outperform" rating for the company. UBS Group lifted their price objective on shares of Okta from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Mizuho downgraded shares of Okta from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $110.00 to $125.00 in a report on Tuesday, June 2nd. Finally, Citigroup reiterated an "outperform" rating on shares of Okta in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus target price of $116.83.

Okta Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta's offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.