Forum Financial Management LP Buys 1,662 Shares of Okta, Inc. $OKTA

Forum Financial Management LP increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 53.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,780 shares of the company’s stock after acquiring an additional 1,662 shares during the period. Forum Financial Management LP’s holdings in Okta were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock worth $1,872,167,000 after buying an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock worth $389,308,000 after buying an additional 2,830,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after buying an additional 1,189,222 shares during the period. Ninety One UK Ltd lifted its position in shares of Okta by 52.1% during the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock worth $274,370,000 after buying an additional 939,589 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Okta by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company’s stock worth $211,982,000 after buying an additional 100,411 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $89.07 on Friday. The stock has a fifty day moving average of $91.09 and a 200-day moving average of $98.92. The stock has a market capitalization of $15.59 billion, a P/E ratio of 104.79, a price-to-earnings-growth ratio of 4.35 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

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

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction 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 sale, the insider directly owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale can be found here. In the last three months, insiders sold 63,657 shares of company stock worth $5,898,754. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Robert W. Baird cut their target price on Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. BTIG Research reiterated a “buy” rating and issued a $142.00 price objective on shares of Okta in a research report on Friday, September 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Canaccord Genuity Group upgraded Okta from a “hold” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $120.00 in a research report on Tuesday, August 26th. Finally, Arete Research upgraded Okta to a “strong sell” rating and set a $83.00 price objective for the company in a research report on Monday, July 7th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $118.94.

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.