Norden Group LLC Has $326,000 Stake in Okta, Inc. $OKTA

Norden Group LLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 3.7% in the second quarter, Holdings Channel reports. The fund owned 3,260 shares of the company’s stock after acquiring an additional 116 shares during the period. Norden Group LLC’s holdings in Okta were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Wolff Wiese Magana LLC lifted its holdings in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Pinnacle Bancorp Inc. bought a new position in shares of Okta during the second quarter valued at $26,000. Wayfinding Financial LLC bought a new position in shares of Okta during the first quarter valued at $27,000. Harbour Investments Inc. lifted its holdings in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the period. Finally, Rossby Financial LCC bought a new position in shares of Okta during the first quarter valued at $31,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Down 0.0%

Shares of OKTA stock opened at $91.16 on Friday. The stock has a 50-day moving average price of $92.91 and a 200 day moving average price of $101.28. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 107.25, a PEG ratio of 4.48 and a beta of 0.83. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. 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 predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the transaction, the insider owned 39,155 shares in the company, valued at approximately $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This trade represents a 69.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,593 shares of company stock valued at $12,598,168. Insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of analyst reports. BMO Capital Markets cut their price objective on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a report on Wednesday, August 27th. Truist Financial upgraded Okta from a “hold” rating to a “buy” rating and raised their target price for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Arete began coverage on Okta in a research note on Monday, July 7th. They issued a “sell” rating and a $83.00 target price for the company. BTIG Research restated a “buy” rating and issued a $142.00 target price on shares of Okta in a research note on Friday. Finally, Bank of America restated an “underperform” rating and issued a $75.00 target price on shares of Okta in a research note 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.14.

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.