Caprock Group LLC Makes New $1.05 Million Investment in Okta, Inc. $OKTA

Caprock Group LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, Holdings Channel reports. The firm acquired 11,291 shares of the company’s stock, valued at approximately $1,047,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Promus Capital LLC acquired a new stake in shares of Okta in the 2nd quarter valued at $27,000. Root Financial Partners LLC acquired a new position in Okta in the third quarter valued at about $26,000. Cullen Frost Bankers Inc. grew its stake in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after buying an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of Okta in the third quarter valued at approximately $40,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $90.00 to $125.00 in a report on Tuesday, December 16th. KeyCorp restated an “overweight” rating and issued a $140.00 target price on shares of Okta in a research note on Monday, December 1st. Roth Mkm reiterated a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Royal Bank Of Canada raised their price objective on shares of Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Twenty-five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.88.

Okta Stock Performance

OKTA opened at $87.26 on Monday. The firm’s fifty day moving average is $88.86 and its two-hundred day moving average is $89.05. The firm has a market cap of $15.47 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 3.48 and a beta of 0.77. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta announced that its Board of Directors has initiated a share buyback plan on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $84.40, for a total value of $203,319.60. Following the completion of the transaction, the insider owned 11,266 shares in the company, valued at $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $83.47, for a total transaction of $153,250.92. Following the sale, the insider owned 36,328 shares in the company, valued at approximately $3,032,298.16. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,245 shares of company stock valued at $3,385,624 in the last quarter. 5.68% of the stock is owned by company insiders.

Okta 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.