Maytus Capital Management LLC Invests $1.38 Million in Okta, Inc. $OKTA

Maytus Capital Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $1,384,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Okta by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after acquiring an additional 1,326,051 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Okta by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after acquiring an additional 57,605 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Okta by 2.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after acquiring an additional 69,653 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Okta by 9.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after acquiring an additional 189,036 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $116.27 on Wednesday. The stock’s fifty day moving average price is $90.31 and its two-hundred day moving average price is $86.36. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 84.25, a P/E/G ratio of 4.28 and a beta of 0.80.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period in the prior year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,818 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $80.00, for a total value of $1,345,440.00. Following the transaction, the insider directly owned 15,470 shares of the company’s stock, valued at $1,237,600. This represents a 52.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 11,263 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $81.01, for a total value of $912,415.63. Following the completion of the transaction, the chief executive officer directly owned 97,083 shares in the company, valued at approximately $7,864,693.83. This represents a 10.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 159,019 shares of company stock worth $16,449,580. 4.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler boosted their target price on Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Susquehanna boosted their target price on Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Cantor Fitzgerald boosted their target price on Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, April 16th. Finally, Wolfe Research assumed coverage on Okta in a report on Thursday, April 16th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.14.

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.