Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Invests $3.44 Million in Okta, Inc. $OKTA

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,239 shares of the company’s stock, valued at approximately $3,444,000.

A number of other hedge funds also recently made changes to their positions in OKTA. SHP Wealth Management bought a new stake in Okta during the 4th quarter valued at $27,000. Washington Trust Advisors Inc. raised its stake in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after purchasing an additional 77 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Assetmark Inc. lifted its holdings in Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after purchasing an additional 322 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in Okta by 1,265.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock worth $59,000 after purchasing an additional 696 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of OKTA stock opened at $167.60 on Wednesday. The business has a 50-day moving average of $147.69 and a 200 day moving average of $109.74. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $174.85. The stock has a market capitalization of $29.30 billion, a PE ratio of 100.96, a P/E/G ratio of 5.31 and a beta of 0.79.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Insider Transactions at Okta

In other Okta news, CEO Todd McKinnon sold 68,936 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the completion of the transaction, the chief executive officer owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the transaction, the insider owned 25,241 shares of the company’s stock, valued at $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 155,376 shares of company stock worth $23,734,135 over the last 90 days. 4.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson increased their target price on shares of Okta from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Robert W. Baird raised their price target on Okta from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Guggenheim set a $188.00 price objective on Okta and gave the stock a “buy” rating in a report on Thursday, August 27th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research report on Friday, May 29th. Finally, Scotiabank restated an “outperform” rating and issued a $190.00 price objective on shares of Okta in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $172.92.

Okta Company Profile

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.