Polianta Ltd Purchases New Position in Okta, Inc. $OKTA

Key Points

• Polianta Ltd. bought 13,700 Okta shares worth approximately $1.87 million in the second quarter, while institutional investors collectively own 86.64% of the company.
• Okta exceeded quarterly expectations with adjusted EPS of $0.91 versus $0.85 expected and revenue of $765 million, up 11.2% year over year. The stock opened at $148.32, near its 52-week high of $157.00.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $121.81, while insiders sold approximately $22.0 million of stock during the last quarter under pre-arranged trading plans.

Polianta Ltd purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,700 shares of the company's stock, valued at approximately $1,869,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Robeco Institutional Asset Management B.V. lifted its stake in shares of Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock valued at $40,241,000 after purchasing an additional 161,069 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Okta in the fourth quarter worth $3,122,000. Swedbank AB grew its stake in Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company's stock worth $157,296,000 after purchasing an additional 1,007,915 shares during the period. Diversify Wealth Management LLC bought a new position in Okta in the first quarter worth $2,077,000. Finally, Torque Asset Management LLC raised its holdings in Okta by 40.5% in the fourth quarter. Torque Asset Management LLC now owns 289,141 shares of the company's stock worth $25,002,000 after purchasing an additional 83,337 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Shellye L. Archambeau sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director owned 9,192 shares of the company's stock, valued at $781,320. This trade represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company's stock, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 167,847 shares of company stock valued at $22,039,842. Company insiders own 4.61% of the company's stock.

Okta Price Performance

OKTA opened at $148.32 on Friday. The firm has a market cap of $25.78 billion, a PE ratio of 107.48, a P/E/G ratio of 5.33 and a beta of 0.77. The stock has a 50-day moving average price of $133.88 and a 200-day moving average price of $99.45. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, sell-side analysts anticipate that Okta, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of Okta in a report on Monday, July 6th. They set a "buy" rating on the stock. UBS Group lifted their price target on shares of Okta from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Mizuho lowered shares of Okta from an "outperform" rating to a "neutral" rating and boosted their price objective for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Berenberg Bank upped their price objective on shares of Okta from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, BTIG Research raised their target price on shares of Okta from $119.00 to $136.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $121.81.

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.

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