USA Financial Formulas Invests $207,000 in Okta, Inc. $OKTA

USA Financial Formulas acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,072 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in OKTA. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after purchasing an additional 4,171 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Okta by 68.8% during the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock worth $2,683,000 after purchasing an additional 13,869 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Okta by 37,287.3% in the first quarter. GAMMA Investing LLC now owns 126,369 shares of the company’s stock valued at $13,297,000 after acquiring an additional 126,031 shares during the last quarter. Rhumbline Advisers grew its position 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. Finally, NBC Securities Inc. purchased a new stake in Okta during the first quarter valued at about $95,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $94.92 on Friday. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 111.67, a PEG ratio of 4.50 and a beta of 0.84. The stock’s 50-day simple moving average is $92.65 and its 200-day simple moving average is $100.79.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on OKTA. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, August 27th. Scotiabank lowered their price target on Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 27th. DA Davidson reissued a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday, September 26th. Truist Financial raised Okta from a “hold” rating to a “buy” rating and boosted their price target for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, Bank of America reissued an “underperform” rating and set a $75.00 price target on shares of Okta in a research report on Wednesday, August 27th. Twenty-two investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.94.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the business’s stock in a transaction dated 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 directly owned 7,067 shares of the company’s stock, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,593 shares of company stock valued at $12,598,168. Company insiders own 5.68% of the company’s stock.

About Okta

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.