SWS Partners Purchases 6,851 Shares of Okta, Inc. $OKTA

SWS Partners boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 22.6% in the third quarter, Holdings Channel reports. The fund owned 37,100 shares of the company’s stock after acquiring an additional 6,851 shares during the period. SWS Partners’ holdings in Okta were worth $3,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC grew its position in shares of Okta by 5.5% in the first quarter. Kestra Advisory Services LLC now owns 9,042 shares of the company’s stock valued at $951,000 after purchasing an additional 470 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Okta by 12.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after buying an additional 92 shares during the last quarter. Freedom Investment Management Inc. bought a new position in Okta in the 1st quarter worth approximately $262,000. CreativeOne Wealth LLC bought a new position in Okta in the 1st quarter worth approximately $514,000. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Okta by 55.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 6,403 shares of the company’s stock worth $674,000 after buying an additional 2,277 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKTA has been the topic of several research analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of Okta in a research note on Monday, December 1st. UBS Group reissued a “buy” rating on shares of Okta in a report on Thursday, December 4th. Robert W. Baird dropped their price objective on shares of Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. DA Davidson reaffirmed a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets reduced their target price 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. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.62.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $85.71, for a total value of $112,965.78. Following the sale, the insider directly owned 35,201 shares in the company, valued at $3,017,077.71. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 133,336 shares of the company’s stock, valued at $12,666,920. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,147 shares of company stock worth $3,310,275 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Up 0.2%

NASDAQ:OKTA opened at $88.61 on Friday. The firm has a market capitalization of $15.70 billion, a PE ratio of 81.29, a price-to-earnings-growth ratio of 4.17 and a beta of 0.77. Okta, Inc. has a 12-month low of $75.05 and a 12-month high of $127.57. The firm has a 50-day moving average price of $86.18 and a 200 day moving average price of $91.29.

Okta (NASDAQ:OKTA) last released its quarterly earnings data 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 company had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s quarterly 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, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.