Okta, Inc. $OKTA Shares Acquired by Fluent Financial LLC

Fluent Financial LLC lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 64.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 17,844 shares of the company’s stock after buying an additional 7,019 shares during the period. Fluent Financial LLC’s holdings in Okta were worth $1,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new position in shares of Okta during the 2nd quarter worth $26,000. Promus Capital LLC acquired a new position in Okta in the second quarter valued at $27,000. Kiker Wealth Management LLC increased its stake in Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in Okta by 126.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the completion of the transaction, the insider owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. This represents a 20.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,332 shares of company stock worth $4,468,808. Company insiders own 5.68% of the company’s stock.

Okta Stock Down 0.0%

OKTA opened at $90.21 on Friday. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57. The company has a 50 day moving average of $86.13 and a two-hundred day moving average of $91.72. The company has a market cap of $15.99 billion, a P/E ratio of 82.76, a P/E/G ratio of 4.25 and a beta of 0.77.

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 net margin of 6.87% and a return on equity of 3.77%. The business had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same quarter last year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. 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 anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKTA. Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and upped their price objective for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Robert W. Baird lowered their target price on shares of Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Stifel Nicolaus dropped their price target on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Scotiabank decreased their price target on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a report on Wednesday, December 3rd. Finally, Berenberg Bank initiated coverage on shares of Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 price objective for the company. Twenty-four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.62.

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.