US Bancorp DE Has $50.98 Million Position in Okta, Inc. $OKTA

US Bancorp DE lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 36.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 555,988 shares of the company’s stock after purchasing an additional 147,100 shares during the quarter. US Bancorp DE owned approximately 0.32% of Okta worth $50,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Bradley Foster & Sargent Inc. CT bought a new stake in Okta in the third quarter worth $876,000. Jacobson & Schmitt Advisors LLC lifted its position in shares of Okta by 12.0% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 86,196 shares of the company’s stock worth $7,904,000 after buying an additional 9,208 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Okta by 386.0% during the 3rd quarter. Clearstead Advisors LLC now owns 4,233 shares of the company’s stock worth $388,000 after acquiring an additional 3,362 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Okta by 20.7% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 56,537 shares of the company’s stock valued at $5,184,000 after acquiring an additional 9,693 shares during the last quarter. Finally, Kazazian Asset Management LLC bought a new position in shares of Okta in the 3rd quarter valued at approximately $275,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $75.25 on Friday. Okta, Inc. has a twelve month low of $68.77 and a twelve month high of $127.57. The stock has a market cap of $13.34 billion, a PE ratio of 69.04, a PEG ratio of 2.83 and a beta of 0.77. The firm has a 50-day simple moving average of $86.75 and a 200 day simple moving average of $88.00.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS 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 prior year, the company posted $0.67 earnings per share. 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. Research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its board has initiated a stock repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the completion of the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at $950,850.40. This trade represents a 17.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,245 shares of company stock valued at $3,385,624 in the last 90 days. Insiders own 5.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Okta from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Okta in a report on Thursday, December 4th. Wall Street Zen cut shares of Okta from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average price target of $111.00.

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.