Envestnet Portfolio Solutions Inc. Grows Position in Okta, Inc. $OKTA

Envestnet Portfolio Solutions Inc. boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 2,927.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 65,844 shares of the company’s stock after acquiring an additional 63,669 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Okta were worth $6,582,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC raised its position in Okta by 35.9% in the second quarter. Sequoia Financial Advisors LLC now owns 3,421 shares of the company’s stock worth $342,000 after acquiring an additional 903 shares in the last quarter. Yousif Capital Management LLC raised its position in Okta by 2,586.9% in the second quarter. Yousif Capital Management LLC now owns 56,721 shares of the company’s stock worth $5,670,000 after acquiring an additional 54,610 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Okta by 6.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 435,366 shares of the company’s stock worth $42,905,000 after acquiring an additional 28,255 shares in the last quarter. Legal Advantage Investments Inc. raised its position in Okta by 91.2% in the second quarter. Legal Advantage Investments Inc. now owns 9,540 shares of the company’s stock worth $954,000 after acquiring an additional 4,550 shares in the last quarter. Finally, CWM LLC raised its position in Okta by 5.0% in the second quarter. CWM LLC now owns 30,063 shares of the company’s stock worth $3,005,000 after acquiring an additional 1,433 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Down 1.2%

Okta stock opened at $89.08 on Wednesday. The stock has a market cap of $15.60 billion, a PE ratio of 104.80, a P/E/G ratio of 4.42 and a beta of 0.84. The stock has a 50-day moving average price of $91.62 and a 200 day moving average price of $99.49. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data 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 return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter last year, the business posted $0.72 EPS. The firm’s quarterly revenue 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. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. The trade was a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,249 shares of company stock worth $10,759,471 in the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OKTA shares. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Barclays raised their price target on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 27th. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Okta in a research report on Wednesday, August 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $118.94.

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.