Optimize Financial Inc Invests $1.39 Million in Okta, Inc. $OKTA

Optimize Financial Inc acquired a new position in Okta, Inc. (NASDAQ:OKTA) during the third quarter, HoldingsChannel.com reports. The fund acquired 15,124 shares of the company’s stock, valued at approximately $1,387,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Okta by 5.3% in the 2nd 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 raised its stake in Okta by 9.1% during the second 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Okta by 4.0% in the third 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 lifted its holdings in Okta by 11.1% in the second quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after buying an additional 314,525 shares during the period. Finally, Norges Bank bought a new stake in Okta during the second quarter valued at $211,923,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKTA. UBS Group reissued a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Royal Bank Of Canada boosted their price target on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. cut their price target on Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. Berenberg Bank assumed coverage on shares of Okta in a research note on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Scotiabank dropped their target price on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $113.88.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 8,370 shares of the company’s stock in a transaction 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 owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This represents a 42.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of Okta stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This trade represents a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,727 shares of company stock valued at $3,344,746 in the last three months. 5.68% of the stock is currently owned by company insiders.

Okta Price Performance

NASDAQ OKTA opened at $82.31 on Wednesday. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 75.51, a PEG ratio of 3.51 and a beta of 0.77. The company has a fifty day moving average price of $88.32 and a 200-day moving average price of $89.70. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million during 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 was up 11.6% compared to the same quarter last year. During the same period last year, the firm 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. On average, research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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

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.