Maytus Capital Management LLC Takes $1.38 Million Position in Okta, Inc. $OKTA

Maytus Capital Management LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,000 shares of the company’s stock, valued at approximately $1,384,000.

Several other institutional investors have also modified their holdings of the business. State of Wisconsin Investment Board lifted its holdings in shares of Okta by 3.3% during the 4th quarter. State of Wisconsin Investment Board now owns 90,631 shares of the company’s stock valued at $7,837,000 after purchasing an additional 2,867 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Okta by 395.9% during the 4th quarter. Fred Alger Management LLC now owns 15,949 shares of the company’s stock valued at $1,379,000 after purchasing an additional 12,733 shares in the last quarter. Magnetar Financial LLC lifted its holdings in shares of Okta by 40.8% during the 4th quarter. Magnetar Financial LLC now owns 3,162 shares of the company’s stock valued at $273,000 after purchasing an additional 917 shares in the last quarter. Torque Asset Management LLC lifted its holdings in shares of Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after purchasing an additional 83,337 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Okta by 14.7% during the 4th quarter. Truvestments Capital LLC now owns 6,404 shares of the company’s stock valued at $554,000 after purchasing an additional 820 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were bought at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director directly owned 3,712 shares in the company, valued at approximately $267,412.48. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider owned 15,470 shares in the company, valued at approximately $1,237,600. This represents a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 159,019 shares of company stock worth $16,449,580. Corporate insiders own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OKTA shares. TD Cowen cut their price objective on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Jefferies Financial Group lifted their price objective on Okta from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 29th. Needham & Company LLC lifted their price objective on Okta from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 29th. KeyCorp lifted their price objective on Okta from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Morgan Stanley boosted their target price on Okta from $101.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.14.

Okta Stock Performance

NASDAQ OKTA opened at $116.27 on Wednesday. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 84.25, a PEG ratio of 4.28 and a beta of 0.80. The stock’s 50 day moving average price is $90.31 and its two-hundred day moving average price is $86.36. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $142.35.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities research analysts forecast that Okta, Inc. will post 1.74 EPS for the current year.

Okta Company Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.