Burney Co. Purchases New Shares in Okta, Inc. $OKTA

Burney Co. acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the third quarter, Holdings Channel reports. The institutional investor acquired 44,684 shares of the company’s stock, valued at approximately $4,098,000.

Several other hedge funds have also recently made changes to their positions in the business. SWS Partners grew its position in Okta by 22.6% in the third quarter. SWS Partners now owns 37,100 shares of the company’s stock worth $3,402,000 after acquiring an additional 6,851 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of Okta in the 3rd quarter valued at approximately $1,475,000. Polianta Ltd purchased a new position in shares of Okta in the 3rd quarter worth approximately $1,201,000. Blue Zone Wealth Advisors LLC increased its position in shares of Okta by 6.4% during the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 24,138 shares of the company’s stock valued at $2,213,000 after purchasing an additional 1,451 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Okta by 352.7% during the 3rd quarter. Private Trust Co. NA now owns 824 shares of the company’s stock valued at $76,000 after buying an additional 642 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Up 0.2%

Shares of NASDAQ:OKTA opened at $88.61 on Friday. The business’s 50 day moving average is $86.18 and its 200 day moving average is $91.22. The stock has a market cap of $15.70 billion, a P/E ratio of 81.29, a price-to-earnings-growth ratio of 4.18 and a beta of 0.77. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. During the same period in the previous year, the company posted $0.67 EPS. Okta’s revenue was up 11.6% on a year-over-year basis. 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, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

OKTA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Okta in a research note on Wednesday, December 17th. Berenberg Bank started coverage on shares of Okta in a report on Tuesday, November 18th. They set a “buy” rating and a $145.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, December 3rd. BTIG Research cut their target price on Okta from $142.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. Finally, Guggenheim restated a “buy” rating and set a $138.00 price objective on shares of Okta in a report on Wednesday, December 3rd. Twenty-four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 1,318 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $85.71, for a total transaction of $112,965.78. Following the transaction, the insider directly owned 35,201 shares in the company, valued at $3,017,077.71. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,147 shares of company stock valued at $3,310,275 in the last ninety days. 5.68% of the stock is owned by insiders.

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.