Hussman Strategic Advisors Inc. Buys New Shares in Okta, Inc. $OKTA

Hussman Strategic Advisors Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, HoldingsChannel reports. The firm purchased 10,500 shares of the company’s stock, valued at approximately $963,000.

A number of other hedge funds also recently bought and sold shares of OKTA. Root Financial Partners LLC acquired a new position in shares of Okta during the third quarter worth about $26,000. Promus Capital LLC purchased a new position in Okta in the second quarter worth approximately $27,000. Kiker Wealth Management LLC lifted its stake in Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after acquiring an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of Okta in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,409 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $84.40, for a total transaction of $203,319.60. Following the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. This trade represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of Okta stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total transaction of $172,315.26. Following the completion of the transaction, the insider owned 38,164 shares in the company, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,727 shares of company stock worth $3,344,746 in the last quarter. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OKTA shares. BMO Capital Markets decreased their price objective on shares of Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, December 3rd. Mizuho decreased their price target on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a report on Monday, December 1st. Piper Sandler boosted their target price on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Finally, Stifel Nicolaus lowered their price target on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.88.

Okta Stock Down 0.8%

NASDAQ:OKTA opened at $90.74 on Thursday. The company has a market capitalization of $16.08 billion, a PE ratio of 83.25, a P/E/G ratio of 4.28 and a beta of 0.76. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57. The stock’s 50 day moving average price is $87.85 and its 200 day moving average price is $89.92.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta announced that its board has authorized a share repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.