Alamar Capital Management LLC Invests $2.81 Million in Okta, Inc. $OKTA

Alamar Capital Management LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the first quarter, Holdings Channel.com reports. The fund acquired 35,695 shares of the company’s stock, valued at approximately $2,810,000. Okta comprises about 1.7% of Alamar Capital Management LLC’s portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares during the last quarter. Geode Capital Management LLC lifted its stake in Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Okta by 2.9% in 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 purchasing an additional 69,653 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Down 3.5%

Shares of OKTA stock opened at $136.69 on Thursday. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 99.05, a PEG ratio of 5.10 and a beta of 0.77. The stock has a fifty day moving average of $121.98 and a 200 day moving average of $95.28. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $157.00.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In related news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the transaction, the insider owned 19,618 shares in the company, valued at $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider directly owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 174,224 shares of company stock worth $22,534,353. 4.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Canaccord Genuity Group upped their target price on Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wolfe Research started coverage on Okta in a research note on Thursday, April 16th. They issued an “outperform” rating for the company. Seaport Research Partners lowered shares of Okta to a “neutral” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group raised shares of Okta from a “buy” rating to a “buy” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.81.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is being highlighted by multiple outlets as a strong momentum stock, suggesting investor interest remains high despite the pullback. Article Title
• Positive Sentiment: Analysts continue to point to Okta as a beneficiary of rising enterprise AI adoption, which is supporting demand for cybersecurity, identity protection, and zero-trust tools. Article Title
• Positive Sentiment: Recent commentary around the AI era of cybersecurity, including the OpenAI hack discussion, reinforces the broader theme that spending on security may rise alongside AI investment. Article Title
• Neutral Sentiment: Okta remains one of the more widely watched stocks on Zacks, and that attention may help keep trading volume and volatility elevated. Article Title
• Negative Sentiment: The recent drop appears tied to no fresh negative company announcement, making the move more consistent with a post-rally cooling-off period and broader software-sector caution. Article Title
• Negative Sentiment: Some market participants are also worried that enterprise tech budgets could shift toward AI infrastructure, which may weigh on software spending expectations across the sector. Article Title

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.