Yousif Capital Management LLC Acquires 54,610 Shares of Okta, Inc. $OKTA

Yousif Capital Management LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 2,586.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,721 shares of the company's stock after acquiring an additional 54,610 shares during the quarter. Yousif Capital Management LLC's holdings in Okta were worth $5,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKTA. Wolff Wiese Magana LLC raised its position in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in Okta during the second quarter worth $26,000. Wayfinding Financial LLC bought a new stake in Okta during the first quarter worth $27,000. Harbour Investments Inc. raised its position in Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after acquiring an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Okta during the first quarter worth $31,000. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKTA shares. Citigroup reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 price objective on the stock in a research report on Monday, July 7th. JMP Securities reissued a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Truist Financial raised shares of Okta from a "hold" rating to a "buy" rating and increased their price objective for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, Scotiabank dropped their price objective on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $118.94.

Okta Stock Performance

NASDAQ:OKTA opened at $89.08 on Wednesday. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of 104.80, a P/E/G ratio of 4.42 and a beta of 0.84. The firm's 50-day simple moving average is $91.62 and its 200 day simple moving average is $99.49.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping 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 business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the firm earned $0.72 earnings per share. Okta's revenue for the quarter 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. Sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at $706,700. This represents a 56.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction dated 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 sold 114,249 shares of company stock valued at $10,759,471 in the last quarter. Company insiders own 5.68% of the company's stock.

Okta 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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