Okta, Inc. $OKTA Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 14.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 58,257 shares of the company’s stock after selling 9,644 shares during the period. HighTower Advisors LLC’s holdings in Okta were worth $5,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position 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 valued at $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Okta by 9.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after purchasing an additional 189,036 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Okta by 113.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after purchasing an additional 1,099,962 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Okta by 1.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,940,353 shares of the company’s stock worth $167,861,000 after buying an additional 28,155 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Okta by 124.3% during the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after buying an additional 1,007,915 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 1,054 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $84,320.00. Following the completion of the transaction, the insider owned 48,448 shares in the company, valued at $3,875,840. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase bought 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The stock was purchased at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director directly owned 3,712 shares in the company, valued at $267,412.48. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 70,884 shares of company stock worth $5,625,648 in the last 90 days. 4.61% of the stock is currently owned by insiders.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

Okta Trading Up 5.8%

Shares of NASDAQ OKTA opened at $94.72 on Friday. Okta, Inc. has a one year low of $62.66 and a one year high of $107.84. The business has a 50-day moving average price of $79.01 and a two-hundred day moving average price of $82.69. The firm has a market capitalization of $16.76 billion, a PE ratio of 72.31, a PEG ratio of 3.49 and a beta of 0.59.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period last year, the company earned $0.86 earnings per share. The business’s 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. Research analysts anticipate that Okta, Inc. will post 1.61 EPS for the current year.

Analysts Set New Price Targets

OKTA has been the topic of several research reports. Seaport Research Partners cut Okta to a “neutral” rating in a report on Thursday, April 16th. Mizuho reduced their price objective on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Canaccord Genuity Group cut their target price on Okta from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Citigroup raised Okta from a “negative” rating to a “positive” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $102.44.

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.