DAVENPORT & Co LLC Raises Position in Okta, Inc. $OKTA

DAVENPORT & Co LLC lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 81.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,232 shares of the company’s stock after purchasing an additional 264,542 shares during the period. DAVENPORT & Co LLC’s holdings in Okta were worth $58,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of OKTA. Quent Capital LLC increased its position in Okta by 7.9% in the second quarter. Quent Capital LLC now owns 2,592 shares of the company’s stock worth $259,000 after buying an additional 190 shares in the last quarter. 111 Capital grew its stake in shares of Okta by 9.8% during the 2nd quarter. 111 Capital now owns 3,882 shares of the company’s stock valued at $388,000 after acquiring an additional 348 shares during the period. QRG Capital Management Inc. increased its holdings in Okta by 84.5% in the 2nd quarter. QRG Capital Management Inc. now owns 3,724 shares of the company’s stock worth $372,000 after acquiring an additional 1,706 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in Okta by 30.5% during the 2nd quarter. Greenwood Capital Associates LLC now owns 9,197 shares of the company’s stock worth $919,000 after acquiring an additional 2,149 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Okta by 44.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,215 shares of the company’s stock valued at $1,021,000 after purchasing an additional 3,165 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Down 1.7%

OKTA stock opened at $93.30 on Monday. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 109.76, a price-to-earnings-growth ratio of 4.58 and a beta of 0.84. The firm’s fifty day simple moving average is $92.49 and its two-hundred day simple moving average is $100.47.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same period in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. 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, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKTA. DA Davidson reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, September 26th. BMO Capital Markets cut their price target on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research note on Wednesday, August 27th. Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective on shares of Okta in a research report on Wednesday, August 27th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research note on Saturday, September 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $118.94.

Insider Activity

In related news, CRO Jonathan James Addison sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive directly owned 7,067 shares of the company’s stock, valued at approximately $706,700. This trade represents a 56.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,003 shares of company stock valued at $12,819,238. 5.68% of the stock is currently owned by corporate insiders.

About Okta

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.