Okta, Inc. $OKTA Stock: International Assets Investment Management LLC Raises Position

Key Points

• International Assets Investment Management LLC increased its Okta position by 441.9% in the third quarter, bringing its holdings to 15,000 shares valued at approximately $3.14 million. Institutional investors collectively own 86.64% of Okta’s stock.
• Okta insiders sold 137,766 shares worth roughly $23.9 million over the past 90 days, including substantial sales by CEO Todd McKinnon and CFO Brett Tighe under pre-arranged Rule 10b5-1 plans.
• Okta recently exceeded quarterly earnings and revenue estimates, with EPS of $1.05 and revenue of $805 million, while analysts maintain a “Moderate Buy” consensus and an average price target of $202.38.

International Assets Investment Management LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 441.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the company's stock after purchasing an additional 12,232 shares during the period. International Assets Investment Management LLC's holdings in Okta were worth $3,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Glenview Trust Co purchased a new position in shares of Okta during the 3rd quarter valued at approximately $215,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Okta in the 3rd quarter worth $732,000. Choreo LLC increased its holdings in Okta by 4.8% in the 3rd quarter. Choreo LLC now owns 5,547 shares of the company's stock worth $1,160,000 after acquiring an additional 254 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in Okta in the 3rd quarter worth $270,000. Finally, Sage Rhino Capital LLC acquired a new position in Okta during the third quarter worth $224,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Brett Tighe sold 41,251 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the sale, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. This trade represents a 84.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the sale, the chief executive officer owned 44,029 shares of the company's stock, valued at $8,518,730.92. This represents a 52.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,766 shares of company stock valued at $23,927,112 in the last 90 days. Company insiders own 4.61% of the company's stock.

Okta Trading Down 11.2%

Shares of OKTA stock opened at $184.87 on Tuesday. The company's 50-day moving average price is $193.78 and its 200-day moving average price is $125.13. The stock has a market cap of $32.32 billion, a price-to-earnings ratio of 111.37, a PEG ratio of 6.93 and a beta of 0.73. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $235.00.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million during the quarter, compared to analysts' expectations of $793.00 million. During the same period last year, the business earned $0.91 earnings per share. Okta's revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts predict that Okta, Inc. will post 1.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Raymond James Financial increased their price objective on shares of Okta from $115.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their target price on shares of Okta from $200.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, September 24th. DA Davidson upped their price target on shares of Okta from $190.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. Stifel Nicolaus lifted their price objective on Okta from $180.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, September 24th. Finally, New Street Research set a $235.00 price objective on Okta in a research note on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold 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 $202.38.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company's offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.

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