Trexquant Investment LP Takes $23.50 Million Position in Okta, Inc. $OKTA

Key Points

• Trexquant Investment LP has invested approximately $23.50 million in Okta, Inc. by acquiring 223,304 shares, representing about 0.13% of the company.
• Several large investors, including Vanguard Group and Massachusetts Financial Services, have significantly increased their holdings in Okta, reflecting growing institutional confidence in the company's prospects.
• Okta recently reported a quarterly earnings per share of $0.91, exceeding analysts' expectations, with a year-over-year revenue growth of 12.7% at $728 million.

Trexquant Investment LP acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 223,304 shares of the company's stock, valued at approximately $23,496,000. Trexquant Investment LP owned about 0.13% of Okta at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp grew its stake in Okta by 11.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 21,481 shares of the company's stock worth $2,260,000 after buying an additional 2,135 shares during the last quarter. Truvestments Capital LLC grew its stake in Okta by 35.4% during the 1st quarter. Truvestments Capital LLC now owns 5,183 shares of the company's stock worth $545,000 after buying an additional 1,354 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in Okta by 55.2% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 6,403 shares of the company's stock worth $674,000 after buying an additional 2,277 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Okta during the 1st quarter worth $514,000. Finally, Ieq Capital LLC grew its stake in Okta by 25.8% during the 1st quarter. Ieq Capital LLC now owns 123,315 shares of the company's stock worth $12,975,000 after buying an additional 25,327 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Arete assumed coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 price objective for the company. Evercore ISI boosted their price target on 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 upgraded Okta from a "hold" rating to a "buy" rating and boosted their price target for the stock from $115.00 to $120.00 in a research report on Tuesday, August 26th. JMP Securities reiterated a "market perform" rating on shares of Okta in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.25.

Insider Activity at Okta

In other news, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider directly owned 7,044 shares of the company's stock, valued at $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer owned 132,288 shares of the company's stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 over the last ninety days. Company insiders own 5.68% of the company's stock.

Okta Stock Performance

NASDAQ OKTA traded up $0.18 on Friday, reaching $92.77. The company's stock had a trading volume of 8,801,243 shares, compared to its average volume of 4,159,646. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The stock has a market cap of $16.24 billion, a PE ratio of 109.14, a PEG ratio of 4.40 and a beta of 0.80. The firm's 50 day moving average is $94.94 and its two-hundred day moving average is $102.29.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share 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 the consensus estimate of $711.84 million. During the same period in the prior year, the company earned $0.72 EPS. Okta's 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. Equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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.