Okta, Inc. $OKTA Stock: Quadrant Capital Group LLC Grows Holdings

Quadrant Capital Group LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 168.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,576 shares of the company’s stock after purchasing an additional 3,497 shares during the quarter. Quadrant Capital Group LLC’s holdings in Okta were worth $1,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKTA. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA increased its position in Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after buying an additional 550,328 shares during the period. Swedbank AB lifted its stake in Okta by 21.9% in the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after buying an additional 397,507 shares during the last quarter. Bank of America Corp DE lifted its stake in Okta by 0.4% in the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock valued at $117,821,000 after buying an additional 6,533 shares during the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after acquiring an additional 292,900 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In other Okta news, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the sale, the insider owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. The trade was a 25.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the transaction, the chief executive officer owned 44,029 shares in the company, valued at $8,518,730.92. The trade was a 52.58% decrease in their position. 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. Insiders sold a total of 137,766 shares of company stock worth $23,927,112 over the last 90 days. Company insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of research reports. Wall Street Zen lowered shares of Okta from a “buy” rating to a “hold” rating in a research report on Monday, October 12th. Wells Fargo & Company upped their price target on shares of Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Citigroup increased their price target on shares of Okta from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Guggenheim increased their price target on shares of Okta from $188.00 to $227.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Finally, BMO Capital Markets raised their price objective on shares of Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Price Performance

NASDAQ:OKTA opened at $213.05 on Friday. The firm’s fifty day moving average price is $185.47 and its 200 day moving average price is $138.26. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The firm has a market cap of $37.25 billion, a price-to-earnings ratio of 128.34, a price-to-earnings-growth ratio of 6.26 and a beta of 0.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. Okta’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, analysts expect that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.