Eleva Capital SAS Buys 8,843 Shares of Okta, Inc. $OKTA

Eleva Capital SAS purchased a new position in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,843 shares of the company’s stock, valued at approximately $1,849,000. Okta makes up approximately 1.5% of Eleva Capital SAS’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Burkett Financial Services LLC bought a new stake in Okta during the third quarter valued at about $26,000. SHP Wealth Management bought a new position in Okta in the fourth quarter worth about $27,000. Washington Trust Advisors Inc. raised its holdings in Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. Polaris Financial Partners bought a new stake in shares of Okta in the 3rd quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Okta by 279.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after buying an additional 218 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

OKTA stock traded down $0.20 during midday trading on Tuesday, hitting $218.09. 1,799,295 shares of the stock traded hands, compared to its average volume of 3,600,240. The firm has a market cap of $38.13 billion, a P/E ratio of 131.37, a PEG ratio of 6.58 and a beta of 0.73. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $226.44. The stock’s fifty day simple moving average is $167.01 and its 200-day simple moving average is $125.59.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.Okta’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts predict that Okta, Inc. will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OKTA shares. Susquehanna increased their target price on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Bank of America upped their price target on Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, September 24th. BTIG Research reiterated a “buy” rating and set a $219.00 price objective on shares of Okta in a report on Thursday, September 24th. Stifel Nicolaus raised their price objective on Okta from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Finally, Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.72.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the sale, the insider owned 18,668 shares of the company’s stock, valued at $3,427,071.44. The trade was a 25.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 206,702 shares of company stock worth $34,034,508. Corporate insiders own 4.61% of the company’s stock.

Okta Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.