Atria Wealth Solutions Inc. Lowers Stock Holdings in Okta, Inc. $OKTA

Atria Wealth Solutions Inc. trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,557 shares of the company’s stock after selling 277 shares during the period. Atria Wealth Solutions Inc.’s holdings in Okta were worth $255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its position in shares of Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Okta by 12.6% during 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 in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Okta by 18.9% during the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock valued at $71,000 after buying an additional 108 shares in the last quarter. Finally, Norden Group LLC lifted its stake in Okta by 3.7% in the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKTA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Bank of America restated an “underperform” rating and issued a $75.00 target price on shares of Okta in a research note on Wednesday, August 27th. Barclays upped their target price on shares of Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 27th. Finally, Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $118.94.

Okta Trading Up 1.3%

NASDAQ OKTA opened at $89.45 on Wednesday. The company has a fifty day simple moving average of $91.23 and a two-hundred day simple moving average of $99.03. The stock has a market cap of $15.66 billion, a P/E ratio of 105.24, a P/E/G ratio of 4.34 and a beta of 0.84. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total value of $120,794.70. Following the sale, the insider owned 37,837 shares in the company, valued at $3,467,761.05. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares in the company, valued at $841,531.02. The trade was a 20.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,657 shares of company stock valued at $6,798,754. 5.68% of the stock is owned by corporate insiders.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.