Okta, Inc. $OKTA Shares Purchased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise raised its position in Okta, Inc. (NASDAQ:OKTA) by 122.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,298 shares of the company’s stock after purchasing an additional 17,801 shares during the period. Banque Cantonale Vaudoise’s holdings in Okta were worth $2,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vestcor Inc raised its position in shares of Okta by 21.3% in the third quarter. Vestcor Inc now owns 28,469 shares of the company’s stock valued at $2,611,000 after buying an additional 5,000 shares during the last quarter. Fieldview Capital Management LLC purchased a new stake in Okta during the 3rd quarter valued at about $460,000. Russell Investments Group Ltd. grew its stake in Okta by 20.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 65,097 shares of the company’s stock valued at $5,981,000 after acquiring an additional 11,098 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in Okta by 154.4% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 10,362 shares of the company’s stock valued at $950,000 after acquiring an additional 6,289 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in Okta by 80.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 25,207 shares of the company’s stock worth $2,366,000 after purchasing an additional 11,250 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $79.61 on Wednesday. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 60.77, a price-to-earnings-growth ratio of 3.28 and a beta of 0.79. The business has a 50-day moving average of $84.74 and a 200 day moving average of $87.17. Okta, Inc. has a 12 month low of $68.77 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has initiated a share repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

OKTA has been the topic of several recent research reports. Stifel Nicolaus lowered their target price on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Mizuho reduced their price objective on Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Citigroup lowered their price objective on Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Guggenheim reaffirmed a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Finally, Zacks Research upgraded Okta from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.25.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the sale, the insider owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 1,836 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $83.47, for a total value of $153,250.92. Following the completion of the sale, the insider owned 36,328 shares in the company, valued at approximately $3,032,298.16. The trade was a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,927 shares of company stock valued at $3,272,658 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

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.