SCS Capital Management LLC Acquires Shares of 12,033 Okta, Inc. $OKTA

Key Points

• SCS Capital Management LLC has acquired 12,033 shares of Okta, Inc., valued at approximately $1,266,000, as per their 13F filing with the SEC.
• Insider trading activity saw CRO Jonathan James Addison sell 9,000 shares for $900,000, representing a significant decrease in his ownership.
• Okta's stock has a market capitalization of $15.79 billion, with a current performance forecast of 0.42 earnings per share for the fiscal year.

SCS Capital Management LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,033 shares of the company's stock, valued at approximately $1,266,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC grew its holdings in Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after purchasing an additional 92 shares during the period. Allworth Financial LP grew its holdings in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after purchasing an additional 92 shares during the period. Smartleaf Asset Management LLC grew its holdings in Okta by 12.6% during the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock valued at $89,000 after purchasing an additional 92 shares during the period. GPS Wealth Strategies Group LLC grew its holdings in Okta by 7.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after purchasing an additional 100 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after purchasing an additional 108 shares during the period. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive owned 7,067 shares in the company, valued at $706,700. This trade represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock valued at $8,382,790 in the last ninety days. 5.68% of the stock is currently owned by corporate insiders.

Okta Stock Performance

NASDAQ:OKTA opened at $90.21 on Thursday. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 106.13, a P/E/G ratio of 4.57 and a beta of 0.83. Okta, Inc. has a 52-week low of $70.81 and a 52-week high of $127.57. The stock has a fifty day moving average of $93.77 and a 200 day moving average of $101.97.

Okta (NASDAQ:OKTA - Get Free Report) last posted 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 company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $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. Equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Westpark Capital reissued a "buy" rating and set a $140.00 price objective on shares of Okta in a report on Wednesday, August 27th. Royal Bank Of Canada raised their price target on Okta from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. BMO Capital Markets cut their price target on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Guggenheim reaffirmed a "buy" rating and issued a $138.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Wells Fargo & Company raised their price target on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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