Eurizon Capital SGR S.p.A. Buys New Shares in Okta, Inc. $OKTA

Eurizon Capital SGR S.p.A. bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,094 shares of the company’s stock, valued at approximately $3,122,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management boosted its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Allworth Financial LP boosted its position in shares of Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after acquiring an additional 135 shares during the period. Choreo LLC boosted its position in shares of Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after acquiring an additional 140 shares during the period. Raiffeisen Bank International AG boosted its position in shares of Okta by 3.9% in the third quarter. Raiffeisen Bank International AG now owns 4,369 shares of the company’s stock valued at $410,000 after acquiring an additional 166 shares during the period. Finally, Westpac Banking Corp boosted its position in shares of Okta by 10.6% in the third quarter. Westpac Banking Corp now owns 1,851 shares of the company’s stock valued at $170,000 after acquiring an additional 177 shares during the period. 86.64% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the transaction, the executive directly owned 4,364 shares in the company, valued at $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Schellhase purchased 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The shares were bought at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the acquisition, the director directly owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 70,884 shares of company stock valued at $5,625,648. 4.61% of the stock is currently owned by insiders.

Okta Trading Up 13.4%

OKTA opened at $139.79 on Tuesday. The stock has a fifty day simple moving average of $81.09 and a two-hundred day simple moving average of $83.33. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 101.30, a price-to-earnings-growth ratio of 4.78 and a beta of 0.59. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts predict that Okta, Inc. will post 1.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OKTA shares. DA Davidson boosted their target price on shares of Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday. Citigroup reissued an “outperform” rating on shares of Okta in a research report on Friday. Wall Street Zen cut shares of Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Seaport Research Partners downgraded Okta to a “neutral” rating in a research note on Thursday, April 16th. Finally, Arete Research set a $127.00 target price on shares of Okta and gave the stock a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.