Okta, Inc. $OKTA Stock Position Raised by Generali Investments Management Co LLC

Key Points

• Generali Investments Management increased its Okta position by 621.2% in the third quarter, bringing its holdings to 21,671 shares valued at approximately $4.5 million. Institutional investors collectively own 86.64% of Okta.
• Okta reported quarterly revenue of $805 million and earnings of $1.05 per share, exceeding analyst estimates, while revenue grew 10.6% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $202.38, although insiders—including the CEO—sold shares worth nearly $23.9 million over the past three months.

Generali Investments Management Co LLC raised its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 621.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,671 shares of the company's stock after purchasing an additional 18,666 shares during the period. Okta comprises approximately 0.9% of Generali Investments Management Co LLC's portfolio, making the stock its 25th biggest holding. Generali Investments Management Co LLC's holdings in Okta were worth $4,532,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Okta by 11.9% in the 3rd quarter. Versant Capital Management Inc now owns 563 shares of the company's stock valued at $118,000 after buying an additional 60 shares during the last quarter. Washington Trust Advisors Inc. raised its position in Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company's stock worth $27,000 after buying an additional 77 shares during the last quarter. Burkett Financial Services LLC purchased a new position in Okta during the 3rd quarter worth $26,000. CX Institutional raised its position in Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company's stock worth $359,000 after buying an additional 127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company's stock worth $105,000 after acquiring an additional 129 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Stock Performance

Shares of OKTA stock opened at $187.26 on Monday. The stock has a fifty day moving average price of $180.34 and a 200 day moving average price of $134.39. The stock has a market cap of $32.74 billion, a PE ratio of 112.81, a P/E/G ratio of 5.83 and a beta of 0.73. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $235.00.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the company 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 earnings per share for the current year.

Insider Buying and Selling

In other Okta news, insider Eric Kelleher sold 6,395 shares of the firm's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares in the company, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction dated 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 transaction, the chief executive officer owned 44,029 shares of the company's stock, valued at approximately $8,518,730.92. The trade was 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 have sold 137,766 shares of company stock worth $23,927,112 in the last three months. Corporate insiders own 4.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OKTA. Stifel Nicolaus lifted their target price on shares of Okta from $180.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, September 24th. Evercore reissued an "outperform" rating and set a $240.00 price target on shares of Okta in a report on Thursday, September 24th. TD Cowen increased their price target on shares of Okta from $175.00 to $200.00 and gave the stock a "hold" rating in a report on Thursday, September 24th. Citigroup raised their price objective on shares of Okta from $205.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on Okta from $115.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $202.38.

Okta Profile

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.

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.