Okta, Inc. $OKTA Shares Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its stake in Okta, Inc. by 52.1% during the second quarter, acquiring a total of 2,744,524 shares valued at approximately $274.4 million.
• Okta reported a 12.7% increase in revenue year-over-year, reaching $728 million for the quarter, with an earnings per share of $0.91, exceeding estimates.
• A number of analysts have maintained or upgraded their buy ratings for Okta, setting target prices between $125.00 and $140.00, indicating a positive outlook for the stock.

Ninety One UK Ltd raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 52.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,744,524 shares of the company's stock after buying an additional 939,589 shares during the quarter. Ninety One UK Ltd owned about 1.57% of Okta worth $274,370,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. TD Private Client Wealth LLC boosted its holdings in shares of Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock worth $59,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock worth $173,000 after purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Okta by 12.6% during the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock worth $89,000 after purchasing an additional 92 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Okta by 7.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after purchasing an additional 100 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock worth $71,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Price Performance

NASDAQ:OKTA opened at $91.69 on Wednesday. The business's 50-day moving average is $92.79 and its two-hundred day moving average is $100.99. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a market capitalization of $16.05 billion, a PE ratio of 107.87, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OKTA shares. Citigroup reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 target price on shares of Okta in a research report on Wednesday, August 27th. Truist Financial raised Okta from a "hold" rating to a "buy" rating and increased their target price for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Friday, September 26th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 3,348 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the completion of the sale, the insider directly owned 39,155 shares in the company, valued at $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 8,522 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.62, for a total value of $789,307.64. Following the sale, the insider owned 9,174 shares of the company's stock, valued at $849,695.88. This represents a 48.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,593 shares of company stock valued at $12,598,168. 5.68% of the stock is currently owned by insiders.

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.

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