Vident Advisory LLC Grows Position in Okta, Inc. $OKTA

Key Points

• Vident Advisory LLC significantly increased its stake in Okta, Inc. by 138.3%, owning 265,577 shares worth approximately $27.94 million as of the latest SEC filing.
• Several institutional investors, including Massachusetts Financial Services and Ameriprise Financial, have also dramatically boosted their holdings in Okta, reflecting increased interest in the company.
• Analysts have set a consensus target price of $118.25 for Okta, with ratings ranging from "outperform" to "underperform," indicating mixed outlooks among market experts.

Vident Advisory LLC grew its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 138.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,577 shares of the company's stock after acquiring an additional 154,114 shares during the period. Vident Advisory LLC owned 0.15% of Okta worth $27,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Magnetar Financial LLC grew its position in shares of Okta by 384.0% during the 1st quarter. Magnetar Financial LLC now owns 103,952 shares of the company's stock worth $10,938,000 after buying an additional 82,475 shares during the period. Trexquant Investment LP bought a new stake in shares of Okta in the first quarter worth $23,496,000. OMERS ADMINISTRATION Corp lifted its position in shares of Okta by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 21,481 shares of the company's stock worth $2,260,000 after purchasing an additional 2,135 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Okta by 35.4% in the first quarter. Truvestments Capital LLC now owns 5,183 shares of the company's stock worth $545,000 after purchasing an additional 1,354 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its position in Okta by 55.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 6,403 shares of the company's stock worth $674,000 after acquiring an additional 2,277 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Up 0.4%

OKTA stock traded up $0.32 during midday trading on Wednesday, reaching $89.82. 1,903,606 shares of the company's stock traded hands, compared to its average volume of 3,744,430. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 105.74, a P/E/G ratio of 4.52 and a beta of 0.83. The firm's fifty day moving average price is $94.64 and its 200-day moving average price is $102.20. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on OKTA shares. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. The Goldman Sachs Group increased their price objective on shares of Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. JMP Securities reiterated a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, August 27th. Finally, BMO Capital Markets dropped their target price on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $118.25.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction on 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 completion of the sale, the insider owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by insiders.

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.