Okta, Inc. $OKTA Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 50.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,310 shares of the company’s stock after purchasing an additional 2,118 shares during the period. Metis Global Partners LLC’s holdings in Okta were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta during the second quarter worth about $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Kiker Wealth Management LLC boosted 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, V Square Quantitative Management LLC boosted its holdings in Okta by 126.0% in the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In other news, CRO Jonathan James Addison sold 6,091 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the sale, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. This represents a 46.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 8,522 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.62, for a total value of $789,307.64. Following the completion of the sale, the insider directly owned 9,174 shares in the company, valued at approximately $849,695.88. This trade represents a 48.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 63,657 shares of company stock valued at $5,898,754. 5.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on OKTA. Truist Financial raised Okta from a “hold” rating to a “buy” rating and upped their target price for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. Scotiabank reduced their price objective on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 27th. Citigroup reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Finally, DA Davidson restated a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Friday, September 26th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.91.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $84.69 on Thursday. The company’s fifty day moving average is $90.09 and its two-hundred day moving average is $97.88. Okta, Inc. has a 1-year low of $71.84 and a 1-year high of $127.57. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 99.64, a price-to-earnings-growth ratio of 4.20 and a beta of 0.84.

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

Okta Profile

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.