State of Alaska Department of Revenue Invests $1.88 Million in Okta, Inc. $OKTA

Key Points

• The State of Alaska Department of Revenue has invested approximately $1.88 million in Okta, Inc. by acquiring 18,810 shares during the second quarter.
• Okta reported an earnings per share (EPS) of $0.91 for the last quarter, surpassing analyst expectations of $0.84 and showing a 12.7% increase in revenue year-over-year.
• Approximately 86.64% of Okta’s stock is currently held by institutional investors, with various firms increasing their stakes in the company recently.

State of Alaska Department of Revenue acquired a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 18,810 shares of the company's stock, valued at approximately $1,880,000.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC increased its stake in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares during the period. Pinnacle Bancorp Inc. bought a new position in shares of Okta in the second quarter worth about $26,000. Wayfinding Financial LLC bought a new position in shares of Okta in the first quarter worth about $27,000. Harbour Investments Inc. increased its stake in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after purchasing an additional 157 shares during the period. Finally, Rossby Financial LCC acquired a new stake in Okta during the first quarter worth about $31,000. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Up 3.5%

NASDAQ:OKTA opened at $94.92 on Friday. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57. The firm has a 50 day moving average of $92.65 and a 200-day moving average of $100.79. The stock has a market capitalization of $16.62 billion, a P/E ratio of 111.67, a price-to-earnings-growth ratio of 4.50 and a beta of 0.84.

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

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 3,348 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the completion of the transaction, the insider owned 39,155 shares in the company, valued at $3,530,606.35. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold a total of 134,593 shares of company stock valued at $12,598,168 in the last ninety days. 5.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial raised Okta from a "hold" rating to a "buy" rating and lifted their target price for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Zacks Research downgraded Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Scotiabank decreased their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Guggenheim reissued a "buy" rating and set a $138.00 target price on shares of Okta in a research report on Wednesday, August 27th. Finally, Arete assumed 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. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $118.94.

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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