Okta, Inc. $OKTA Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 90.3% during the third quarter, HoldingsChannel reports. The firm owned 20,653 shares of the company’s stock after selling 191,351 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Okta were worth $1,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in Okta during the 1st quarter worth approximately $225,000. NewEdge Advisors LLC lifted its position in shares of Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after purchasing an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Okta in the second quarter valued at $244,000. IFM Investors Pty Ltd grew its holdings in Okta by 0.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 30,766 shares of the company’s stock valued at $3,076,000 after purchasing an additional 168 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Okta by 46,433.3% during the 2nd quarter. UMB Bank n.a. now owns 1,396 shares of the company’s stock worth $140,000 after buying an additional 1,393 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OKTA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 target price on shares of Okta in a research report on Friday, December 12th. Jefferies Financial Group raised Okta from a “hold” rating to a “buy” rating and upped their target price for the company from $90.00 to $125.00 in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Okta from $110.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. cut their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. Finally, Guggenheim reiterated a “buy” rating and set a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Twenty-five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.88.

Okta Price Performance

Okta stock opened at $87.71 on Wednesday. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57. The company has a fifty day moving average price of $86.85 and a two-hundred day moving average price of $90.10. The company has a market cap of $15.54 billion, a PE ratio of 80.47, a P/E/G ratio of 4.19 and a beta of 0.76.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same period last year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has approved a stock repurchase plan on Monday, January 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 8,370 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $90.19, for a total value of $754,890.30. Following the sale, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This trade represents a 42.63% decrease in their position. The transaction 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 Okta stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the sale, the chief financial officer owned 134,385 shares in the company, valued at approximately $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 36,727 shares of company stock valued at $3,344,746. 5.68% of the stock is currently owned by insiders.

Okta Company Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.