Fluent Financial LLC Has $1.08 Million Stock Position in Okta, Inc. $OKTA

Fluent Financial LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 94.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,825 shares of the company’s stock after acquiring an additional 5,272 shares during the quarter. Fluent Financial LLC’s holdings in Okta were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Okta during the 2nd quarter worth about $4,699,000. KLP Kapitalforvaltning AS grew its position in shares of Okta by 1.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 102,000 shares of the company’s stock worth $10,197,000 after buying an additional 1,100 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Okta during the 2nd quarter worth approximately $547,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Okta during the second quarter worth approximately $308,000. Finally, DAVENPORT & Co LLC lifted its holdings in Okta by 81.5% in the second quarter. DAVENPORT & Co LLC now owns 589,232 shares of the company’s stock valued at $58,441,000 after buying an additional 264,542 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Robert Kelleher sold 2,410 shares of the company’s 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 transaction, the insider directly owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,003 shares of company stock valued at $13,769,238 over the last three months. Insiders own 5.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OKTA shares. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Scotiabank dropped their price objective on Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a report on Wednesday, August 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a report on Wednesday. Finally, Arete began coverage on Okta in a research report on Monday, July 7th. They set a “sell” rating and a $83.00 target price for the company. Twenty-two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $118.94.

Okta Price Performance

Shares of Okta stock opened at $92.63 on Thursday. The company has a market capitalization of $16.22 billion, a P/E ratio of 108.98, a price-to-earnings-growth ratio of 4.46 and a beta of 0.84. The business has a 50-day moving average of $92.11 and a two-hundred day moving average of $100.21. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period in the previous year, the firm earned $0.72 EPS. Okta’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 anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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.