Okta, Inc. $OKTA Shares Acquired by Ethic Inc.

Ethic Inc. boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 21.3% in the 2nd quarter, Holdings Channel reports. The firm owned 18,078 shares of the company’s stock after buying an additional 3,180 shares during the period. Ethic Inc.’s holdings in Okta were worth $1,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKTA. Massachusetts Financial Services Co. MA lifted its stake in Okta by 325.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the last quarter. Alkeon Capital Management LLC acquired a new stake in Okta during the first quarter valued at approximately $199,918,000. Ninety One UK Ltd acquired a new stake in Okta during the first quarter valued at approximately $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Okta by 76.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after purchasing an additional 1,189,222 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Okta during the first quarter valued at approximately $78,094,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the transaction, the insider directly owned 39,155 shares in the company, valued at $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 6,091 shares of the business’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 of the company’s stock, valued at $654,474.87. This represents a 46.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,657 shares of company stock valued at $5,898,754. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $89.07 on Friday. The company has a market capitalization of $15.59 billion, a P/E ratio of 104.79, a P/E/G ratio of 4.37 and a beta of 0.84. The stock’s 50 day moving average price is $91.09 and its 200 day moving average price is $98.97. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OKTA. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, August 27th. Arete Research upgraded shares of Okta to a “strong sell” rating and set a $83.00 price target on the stock in a report on Monday, July 7th. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and boosted their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Arete began coverage on shares of Okta in a report on Monday, July 7th. They set a “sell” rating and a $83.00 price target on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $118.94.

Okta Company 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.