Triumph Capital Management Trims Holdings in Okta, Inc. $OKTA

Triumph Capital Management lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 49.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,098 shares of the company’s stock after selling 5,892 shares during the period. Triumph Capital Management’s holdings in Okta were worth $832,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC increased its stake in shares of Okta by 266.9% in the 2nd quarter. Ancora Advisors LLC now owns 2,682 shares of the company’s stock worth $366,000 after acquiring an additional 1,951 shares during the last quarter. Greenleaf Trust purchased a new stake in shares of Okta in the second quarter valued at about $291,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Okta during the second quarter worth about $177,000. Public Employees Retirement System of Ohio acquired a new stake in Okta during the second quarter worth about $13,510,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Okta during the second quarter worth about $340,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares in the company, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,376 shares of company stock worth $18,477,982 over the last ninety days. Insiders own 4.61% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Citizens Jmp increased their price target on shares of Okta from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Thursday, August 27th. Canaccord Genuity Group lifted their price target on shares of Okta from $115.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. New Street Research set a $200.00 price objective on Okta in a report on Thursday, August 27th. Stifel Nicolaus set a $180.00 price objective on Okta in a research report on Thursday, August 27th. Finally, Raymond James Financial raised their target price on Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.92.

Okta Stock Performance

Shares of OKTA stock opened at $166.43 on Wednesday. The stock has a market capitalization of $28.93 billion, a P/E ratio of 100.26, a price-to-earnings-growth ratio of 5.44 and a beta of 0.77. The company has a 50 day moving average price of $143.44 and a 200 day moving average price of $106.80. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $174.85.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts forecast that Okta, Inc. will post 1.9 EPS for the current fiscal year.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham raised its price target to a Street-high $200, citing Okta’s opportunity to secure AI agents and growing demand for AI-enabled identity security. Okta Stock Gets Stunning $200 Price Target Hike on AI Agent Growth
• Positive Sentiment: Analyst optimism has followed Okta’s fiscal second-quarter results, which included an earnings and revenue beat, stronger subscription backlog, and increased fiscal 2027 guidance. The company also completed its Permiso Security acquisition, adding cloud-native identity threat detection capabilities. Okta gains as investors continue to digest strong quarterly results and a higher outlook
• Positive Sentiment: Scotiabank lifted its fiscal 2027 EPS estimate for Okta to $1.91 from $1.74, above the $1.77 consensus, signaling improving expectations for profitability. Scotiabank raises Okta earnings estimate
• Neutral Sentiment: Industry coverage remains favorable, identifying Okta as a leading AI-powered cybersecurity and digital-identity beneficiary as enterprises adopt passkeys, biometrics, and controls for human and non-human identities. However, Microsoft and CrowdStrike remain significant competitors. OKTA’s AI Security Push Gains Momentum Against CRWD and MSFT
• Negative Sentiment: The immediate trading backdrop is unfavorable: geopolitical uncertainty and higher bond yields are pressuring software and cybersecurity shares. Okta’s elevated valuation also leaves the stock sensitive to changes in interest rates and investor risk tolerance. Okta, Datadog, JFrog, Zscaler, and Elastic Shares Are Falling

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.