QRG Capital Management Inc. Buys 7,515 Shares of Okta, Inc. $OKTA

Key Points

• QRG Capital Management bought 7,515 Okta shares worth approximately $1.03 million during the second quarter. Institutional investors and hedge funds collectively own 86.64% of Okta’s outstanding stock.
• Analysts remain broadly bullish, with Okta receiving a “Moderate Buy” consensus rating and an average price target of $199.56. Recent targets range as high as $240.
• Okta exceeded quarterly expectations, reporting $1.05 in EPS and $805 million in revenue, up 10.6% year over year. However, insiders sold 206,702 shares worth about $34 million over the past 90 days, including a roughly $9.45 million sale by CEO Todd McKinnon.

QRG Capital Management Inc. bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,515 shares of the company's stock, valued at approximately $1,025,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock worth $281,209,000 after buying an additional 1,485,963 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock valued at $281,246,000 after buying an additional 57,605 shares during the period. Pictet Asset Management Holding SA increased its stake in Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company's stock valued at $195,844,000 after purchasing an additional 550,328 shares in the last quarter. Swedbank AB increased its stake in shares of Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company's stock worth $174,468,000 after purchasing an additional 397,507 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Okta during the fourth quarter worth about $175,193,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OKTA shares. Cantor Fitzgerald boosted their target price on Okta from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 27th. Piper Sandler increased their price objective on Okta from $105.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Stephens lifted their price target on Okta from $190.00 to $240.00 and gave the company an "overweight" rating in a report on Friday. BTIG Research reissued a "buy" rating and issued a $219.00 price target on shares of Okta in a research note on Thursday, September 24th. Finally, DA Davidson increased their price target on Okta from $190.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $199.56.

Okta Stock Performance

Shares of OKTA opened at $202.18 on Tuesday. The stock has a 50 day simple moving average of $159.69 and a 200 day simple moving average of $120.93. The firm has a market capitalization of $35.35 billion, a PE ratio of 121.80, a P/E/G ratio of 6.07 and a beta of 0.79. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $212.50.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS 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 firm had revenue of $805.00 million during the quarter, compared to analysts' expectations of $793.00 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The business's quarterly 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. Equities research analysts predict that Okta, Inc. will post 1.92 EPS for the current fiscal year.

Insider Activity at Okta

In other Okta news, 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 value of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares of the company's stock, valued at approximately $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the business's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider owned 18,668 shares in the company, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 206,702 shares of company stock valued at $34,034,508 in the last 90 days. 4.61% of the stock is owned by corporate insiders.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Citizens raised its price target to $225 from $180 and maintained a “Market Outperform” rating. The firm believes identity security will become increasingly important as businesses deploy AI agents, while improving demand, cross-selling and go-to-market execution could accelerate Okta’s growth. The new target implies approximately 11% upside from the referenced share price. Citizens raises Okta price target
• Positive Sentiment: Analysts are increasingly focused on Okta’s AI-agent security opportunity. New capabilities announced at Oktane 2026, including Agent SSO, could position Okta as an identity and access-control layer for autonomous AI systems that require authentication, permissions and continuous oversight. Okta AI pivot and growth opportunity
• Positive Sentiment: Bank of America and BMO Capital Markets also expressed optimism about Okta’s outlook. Coverage points to the possibility that the AI security market could expand beyond Okta’s traditional identity-management opportunity, supporting longer-term growth and additional analyst target increases. Bank of America raises Okta target
• Neutral Sentiment: The main investment debate is valuation and execution. Although the AI-agent opportunity has strengthened Okta’s growth narrative, investors are weighing how quickly the new business can become material enough to justify the stock’s elevated valuation. Okta AI agent opportunity and valuation
• Negative Sentiment: Okta CEO Todd McKinnon reportedly sold approximately $9.45 million of company stock. The insider sale may create a modest overhang, although it does not necessarily indicate a change in the company’s operating outlook. Okta CEO stock sale

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company's offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.

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