Voya Investment Management LLC Has $120.89 Million Stock Position in Okta, Inc. $OKTA

Voya Investment Management LLC reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 98.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,318,346 shares of the company’s stock after selling 91,315,008 shares during the quarter. Voya Investment Management LLC’s holdings in Okta were worth $120,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new stake in shares of Okta during the second quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in Okta during the 2nd quarter worth $27,000. Kiker Wealth Management LLC raised its position in shares of Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Okta by 126.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $90.21 on Friday. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The company’s 50 day moving average price is $86.13 and its two-hundred day moving average price is $91.80. The company has a market capitalization of $15.99 billion, a P/E ratio of 82.76, a price-to-earnings-growth ratio of 4.26 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the sale, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. This trade represents a 20.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,332 shares of company stock worth $4,468,808 in the last 90 days. Company insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of recent analyst reports. Piper Sandler dropped their price objective on Okta from $110.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Susquehanna lowered their price target on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Berenberg Bank started coverage on shares of Okta in a report on Tuesday, November 18th. They set a “buy” rating and a $145.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Twenty-four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.62.

About Okta

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.