Prescott Group Capital Management L.L.C. Buys New Stake in Okta, Inc. $OKTA

Prescott Group Capital Management L.L.C. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $2,091,000.

Several other hedge funds have also made changes to their positions in the stock. Burkett Financial Services LLC bought a new stake in Okta in the third quarter valued at $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Okta during the third quarter worth about $33,000. Polaris Financial Partners bought a new position in shares of Okta during the third quarter worth about $36,000. Washington Trust Advisors Inc. increased its holdings in shares of Okta by 64.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after acquiring an additional 77 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased 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 worth $40,000 after acquiring an additional 218 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,766 shares of company stock worth $23,927,112 over the last 90 days. 4.61% of the stock is owned by company insiders.

Okta Stock Up 2.6%

NASDAQ:OKTA opened at $189.68 on Wednesday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The firm has a market capitalization of $33.16 billion, a price-to-earnings ratio of 114.27, a price-to-earnings-growth ratio of 5.75 and a beta of 0.74. The stock has a fifty day simple moving average of $194.95 and a 200 day simple moving average of $125.61.

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

Analyst Ratings Changes

Several analysts recently weighed in on OKTA shares. BMO Capital Markets lifted their price objective on shares of Okta from $230.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Citizens Jmp increased their price objective on shares of Okta from $180.00 to $225.00 and gave the company a “market outperform” rating in a report on Monday, September 28th. Zacks Research raised Okta from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Royal Bank Of Canada upped their target price on Okta from $195.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus price target of $202.38.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: S&P 500 inclusion could bring buying demand. Okta is set to replace Kenvue in the index on Nov. 4, prompting index funds and other passive investors to adjust holdings. The prospect of that demand has helped lift sentiment, although some of the buying may already be reflected in the share price. Article: Dear Okta Stock Fans, Mark Your Calendars for November 4
• Positive Sentiment: Broker coverage is presented as supportive. A Zacks article says broker recommendations suggest investing in OKTA, which may bolster sentiment, though analyst ratings are not a guarantee of future performance. Article: Brokers Suggest Investing in Okta
• Neutral Sentiment: Citi maintained a Hold rating and $215 price target. The analyst said the impact of the DHS incident appears contained, a reassuring assessment tempered by the unchanged Hold recommendation. Article: Okta Maintains $215 Price Target
• Neutral Sentiment: Third-quarter results are scheduled for Dec. 1. The date gives investors a coming checkpoint on Okta’s performance, but the announcement itself does not provide new financial results or guidance. Article: Okta to Announce Third Quarter Fiscal Year 2027 Financial Results
• Negative Sentiment: Recent trading has been volatile. Okta fell sharply in the prior session before the reported rebound; the cited coverage does not identify a specific company development behind that decline. Article: Okta Registers a Bigger Fall Than the Market

About Okta

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.