Caprock Group LLC Takes $1.05 Million Position in Okta, Inc. $OKTA

Caprock Group LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,291 shares of the company’s stock, valued at approximately $1,047,000.

A number of other institutional investors have also recently bought and sold shares of OKTA. Vanguard Group Inc. boosted its holdings in shares of Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after purchasing an additional 935,364 shares during the period. First Trust Advisors LP lifted its position in Okta by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after buying an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after buying an additional 179,919 shares during the period. Geode Capital Management LLC grew its holdings in shares of Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after acquiring an additional 314,525 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Okta in the second quarter worth $211,923,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

Okta stock opened at $87.26 on Monday. Okta, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The firm has a fifty day moving average price of $88.86 and a two-hundred day moving average price of $89.05. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 80.06, a P/E/G ratio of 3.48 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. 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, sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has approved a share repurchase program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was 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 of the company’s stock, valued at $3,032,298.16. This represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 37,245 shares of company stock valued at $3,385,624 over the last ninety days. 5.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Okta in a research report on Friday, December 12th. Stephens upgraded Okta from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $97.00 to $120.00 in a report on Wednesday, January 14th. Mizuho dropped their price objective on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. JPMorgan Chase & Co. decreased their target price on shares of Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, December 3rd. Twenty-five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $113.88.

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.