Stableford Capital II LLC Acquires New Shares in Okta, Inc. $OKTA

Key Points

• Stableford Capital II LLC has acquired 5,591 shares of Okta, Inc., valued at approximately $565,000, signifying growing institutional interest in the company.
• Okta's stock is currently trading at $88.35 and has a market capitalization of $15.47 billion, with a 52-week high of $127.57 and low of $70.92.
• The company reported a 12.7% year-over-year revenue increase, with a quarterly EPS of $0.91, surpassing estimates.

Stableford Capital II LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,591 shares of the company's stock, valued at approximately $565,000.

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 1st quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after buying an additional 92 shares in the last quarter. Allworth Financial LP grew its holdings in Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Okta by 12.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock valued at $89,000 after buying an additional 92 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Okta by 18.9% during the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after buying an additional 108 shares in the last quarter. Finally, Norden Group LLC grew its holdings in Okta by 3.7% during the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company's stock valued at $326,000 after buying an additional 116 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Down 0.8%

Shares of Okta stock opened at $88.35 on Thursday. The stock's fifty day moving average is $91.43 and its two-hundred day moving average is $99.42. The company has a market capitalization of $15.47 billion, a PE ratio of 103.94, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same quarter in the prior year, the company posted $0.72 EPS. Okta's quarterly revenue was up 12.7% on a year-over-year basis. 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, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKTA. Arete began coverage on Okta in a research report on Monday, July 7th. They set a "sell" rating and a $83.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, August 27th. Wall Street Zen raised Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Canaccord Genuity Group raised Okta from a "hold" rating to a "buy" rating and boosted their target price for the company from $115.00 to $120.00 in a research report on Tuesday, August 26th. Finally, Bank of America reissued an "underperform" rating and set a $75.00 target price on shares of Okta in a research report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Okta has an average rating of "Hold" and a consensus target price of $118.94.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 1,318 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the completion of the sale, the insider directly owned 37,837 shares in the company, valued at approximately $3,467,761.05. This represents a 3.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares of the company's stock, valued at $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,249 shares of company stock worth $10,759,471. 5.68% of the stock is owned by company insiders.

About Okta

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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