20,600 Shares in Okta, Inc. $OKTA Bought by PDT Partners LLC

Key Points

• PDT Partners LLC has acquired a new position in Okta, Inc. during the first quarter, purchasing 20,600 shares valued at approximately $2.17 million.
• Several other hedge funds significantly increased their stakes in Okta, with Massachusetts Financial Services Co. raising its ownership by 325.6% in the same period.
• Wall Street analysts have a generally positive outlook on Okta, with the average target price set at $118.25 and 22 analysts rating it as a "Buy."

PDT Partners LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,600 shares of the company's stock, valued at approximately $2,168,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of Okta during the first quarter worth $515,000. Alamar Capital Management LLC boosted its stake in Okta by 31.1% in the first quarter. Alamar Capital Management LLC now owns 41,590 shares of the company's stock valued at $4,376,000 after acquiring an additional 9,860 shares in the last quarter. Graham Capital Management L.P. boosted its stake in Okta by 333.7% in the first quarter. Graham Capital Management L.P. now owns 49,011 shares of the company's stock valued at $5,157,000 after acquiring an additional 37,710 shares in the last quarter. Alamea Verwaltungs GmbH acquired a new position in Okta in the first quarter valued at $224,000. Finally, Nomura Holdings Inc. boosted its stake in Okta by 55.3% in the first quarter. Nomura Holdings Inc. now owns 124,877 shares of the company's stock valued at $13,140,000 after acquiring an additional 44,468 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Up 1.9%

Shares of OKTA traded up $1.74 during mid-day trading on Friday, reaching $91.48. 3,278,151 shares of the company's stock were exchanged, compared to its average volume of 4,568,386. The company has a 50-day simple moving average of $94.16 and a two-hundred day simple moving average of $102.03. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 107.62, a PEG ratio of 4.37 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. This trade represents a 69.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the transaction, the insider directly owned 23,640 shares in the company, valued at approximately $2,364,000. This represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock valued at $8,382,790 over the last 90 days. 5.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on OKTA shares. BMO Capital Markets decreased their price objective on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research note on Wednesday, August 27th. Truist Financial raised shares of Okta from a "hold" rating to a "buy" rating and upped their target price for the company from $100.00 to $125.00 in a report on Monday, August 25th. Citigroup reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Mizuho dropped their price target on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Scotiabank dropped their price target on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.25.

Okta Company 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.