GAMMA Investing LLC Purchases 486 Shares of Okta, Inc. $OKTA

GAMMA Investing LLC raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 40.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,687 shares of the company’s stock after acquiring an additional 486 shares during the period. GAMMA Investing LLC’s holdings in Okta were worth $169,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OKTA. Two Sigma Advisers LP bought a new stake in Okta during the fourth quarter valued at about $985,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Okta by 52.4% during the fourth 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 period. Wellington Management Group LLP boosted its holdings in Okta by 68.8% during the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock valued at $2,683,000 after acquiring an additional 13,869 shares during the period. Central Pacific Bank Trust Division bought a new stake in Okta during the first quarter valued at about $98,000. Finally, Rhumbline Advisers boosted its holdings in Okta by 0.5% during the first quarter. Rhumbline Advisers now owns 194,272 shares of the company’s stock valued at $20,441,000 after acquiring an additional 911 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of Okta stock opened at $93.86 on Tuesday. The firm has a market cap of $16.43 billion, a P/E ratio of 110.42, a P/E/G ratio of 4.47 and a beta of 0.83. The firm has a 50 day simple moving average of $92.87 and a 200 day simple moving average of $101.06. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates 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 quarter last year, the business 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. On average, sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 6,091 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares of the company’s stock, valued at $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,593 shares of company stock valued at $12,598,168 over the last quarter. Company insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on OKTA. Guggenheim reiterated a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, August 27th. Arete Research upgraded shares of Okta to a “strong sell” rating and set a $83.00 target price for the company in a research note on Monday, July 7th. BTIG Research reiterated a “buy” rating and issued a $142.00 target price on shares of Okta in a research note on Friday. Westpark Capital reiterated a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, August 27th. Finally, Scotiabank reduced their target price on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 27th. Twenty-two 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Okta Profile

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.