Okta, Inc. $OKTA Shares Newly Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake 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 bought 3,500 shares of the company’s stock, valued at approximately $732,000.

A number of other large investors have also recently made changes to their positions in OKTA. Choreo LLC increased its holdings in shares of Okta by 4.8% in the 3rd quarter. Choreo LLC now owns 5,547 shares of the company’s stock valued at $1,160,000 after acquiring an additional 254 shares during the period. Interchange Capital Partners LLC acquired a new stake in Okta during the 3rd quarter worth $270,000. Sage Rhino Capital LLC acquired a new stake in Okta during the 3rd quarter worth $224,000. China Universal Asset Management Co. Ltd. boosted its stake in Okta by 152.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,100 shares of the company’s stock worth $2,069,000 after purchasing an additional 6,100 shares during the period. Finally, Hanseatic Management Services Inc. purchased a new position in Okta during the 3rd quarter worth $1,546,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

Okta stock traded down $2.47 during trading hours on Friday, reaching $168.69. 5,290,566 shares of the stock were exchanged, compared to its average volume of 3,403,562. The stock has a market cap of $29.49 billion, a P/E ratio of 101.62, a P/E/G ratio of 5.75 and a beta of 0.74. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $235.00. The firm’s 50 day moving average is $196.81 and its 200 day moving average is $126.92.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business 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 firm earned $0.91 earnings per share. The business’s quarterly revenue 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 research analysts expect that Okta, Inc. will post 1.92 EPS for the current fiscal year.

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.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Wall Street Zen downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Monday, October 12th. Sanford C. Bernstein lowered Okta from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $143.00 to $174.00 in a report on Thursday, September 17th. Weiss Ratings upgraded Okta from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Citizens Jmp upped their price objective on Okta from $180.00 to $225.00 and gave the company a “market outperform” rating in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.38.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: ETFs bought about $99.5 million of Okta shares on Wednesday, with 36 funds buying versus 15 selling. In a related report, the Invesco S&P 500 Equal Weight Technology ETF initiated an $89.1 million position in Okta, making it its only addition while trimming 74 other holdings. The buying may offer support, though both reports refer to Wednesday’s activity. ETF buying article Invesco RSPT article
• Negative Sentiment: Okta shares declined alongside other software names as Wall Street retreated from AI-associated stocks, a rotation that hit recent software winners. This broad sector-driven selling was a key near-term headwind. Software sell-off article
• Negative Sentiment: A Seeking Alpha contributor downgraded Okta to Sell, arguing that its valuation bubble may be deflating. The bearish valuation view could weigh on sentiment, particularly amid the wider pullback in software stocks. Seeking Alpha downgrade

About Okta

Okta, Inc provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources.

Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta serves organizations around the world across a range of industries.