Bourgeon Capital Management LLC Makes New Investment in Okta, Inc. $OKTA

Bourgeon Capital Management LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 86,650 shares of the company’s stock, valued at approximately $7,946,000.

Several other institutional investors have also modified their holdings of OKTA. Pinnacle Bancorp Inc. acquired a new stake in shares of Okta in the 2nd quarter worth approximately $26,000. Promus Capital LLC purchased a new stake in Okta during the second quarter worth $27,000. Cullen Frost Bankers Inc. grew its holdings in Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares during the last quarter. Kiker Wealth Management LLC grew its holdings in Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Okta in the third quarter valued at $40,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Robert Kelleher sold 8,370 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This trade represents a 42.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,737 shares of company stock worth $2,139,206 in the last three months. Company insiders own 5.68% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $83.64 on Friday. The firm has a market cap of $14.82 billion, a P/E ratio of 76.73, a price-to-earnings-growth ratio of 4.04 and a beta of 0.77. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The firm’s 50 day moving average price is $85.98 and its 200 day moving average price is $90.83.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on OKTA shares. BMO Capital Markets decreased their price objective on shares of Okta from $112.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Okta in a research report on Wednesday, December 17th. Barclays reduced their price target on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of Okta in a research note on Monday, December 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

About Okta

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.