Russell Investments Group Ltd. Buys 44,355 Shares of Okta, Inc. $OKTA

Key Points

• Russell Investments Group Ltd. increased its stake in Okta, Inc. by 117% during the first quarter, acquiring an additional 44,355 shares, bringing their total holdings to 82,250 shares valued at approximately $8.66 million.
• Wall Street analysts have varied views on Okta's stock, with Evercore ISI raising the target price to $130.00 while Jefferies Financial Group lowered it to $105.00, reflecting differing opinions on the company's market performance.
• Okta reported an earnings per share of $0.86 for the most recent quarter, exceeding expectations, and set guidance for the next quarter at 0.830-0.840 EPS.

Russell Investments Group Ltd. raised its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 117.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,250 shares of the company's stock after purchasing an additional 44,355 shares during the period. Russell Investments Group Ltd.'s holdings in Okta were worth $8,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its position in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Okta during the first quarter worth about $27,000. Harbour Investments Inc. increased its position in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after acquiring an additional 157 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Okta during the first quarter worth about $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Okta during the fourth quarter worth about $40,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OKTA shares. Evercore ISI boosted their target price on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Canaccord Genuity Group boosted their target price on shares of Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Jefferies Financial Group decreased their target price on shares of Okta from $130.00 to $105.00 and set a "hold" rating for the company in a research report on Thursday, July 24th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the stock a "market perform" rating in a research report on Wednesday, May 28th. Finally, DA Davidson reduced their price objective on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Twenty investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $118.06.

Okta Trading Down 0.3%

Shares of OKTA stock opened at $91.15 on Wednesday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50-day simple moving average of $96.12 and a two-hundred day simple moving average of $102.55. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 4.42 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,244 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider directly owned 23,640 shares in the company, valued at $2,364,000. The trade was a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's 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 sale, the insider owned 7,044 shares in the company, valued at $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company's stock.

Okta 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.

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