Ninety One SA PTY Ltd Has $4.92 Million Stake in Okta, Inc. $OKTA

Ninety One SA PTY Ltd lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 57.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 49,209 shares of the company’s stock after acquiring an additional 18,046 shares during the period. Ninety One SA PTY Ltd’s holdings in Okta were worth $4,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Okta by 3.4% in the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock valued at $1,872,167,000 after buying an additional 582,956 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after acquiring an additional 4,171 shares during the last quarter. Trek Financial LLC bought a new position in shares of Okta in the 1st quarter valued at $426,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Okta in the 1st quarter valued at $515,000. Finally, Merit Financial Group LLC bought a new position in shares of Okta in the 1st quarter valued at $823,000. 86.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Barclays boosted their price target on Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. Arete Research upgraded shares of Okta to a “strong sell” rating and set a $83.00 target price on the stock in a research report on Monday, July 7th. BMO Capital Markets cut their target price on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a research note on Friday, September 26th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 16,018 shares of the business’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 directly owned 7,044 shares of the company’s stock, valued at $646,709.64. The trade was a 69.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock worth $12,598,168 over the last three months. Insiders own 5.68% of the company’s stock.

Okta Stock Down 2.3%

OKTA opened at $91.69 on Wednesday. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The company has a fifty day moving average of $92.79 and a 200-day moving average of $100.99. The stock has a market cap of $16.05 billion, a PE ratio of 107.87, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

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

About Okta

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.