Okta, Inc. $OKTA Shares Purchased by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,196 shares of the company’s stock after buying an additional 9,208 shares during the period. Jacobson & Schmitt Advisors LLC’s holdings in Okta were worth $7,904,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. Bourgeon Capital Management LLC purchased a new position in Okta in the third quarter valued at $7,946,000. SBI Securities Co. Ltd. grew its stake in Okta by 35.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock worth $3,580,000 after purchasing an additional 9,340 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Okta during the 2nd quarter worth about $30,074,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after purchasing an additional 179,919 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the transaction, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of Okta stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. The disclosure for this sale is available in the SEC filing. Insiders sold 37,245 shares of company stock valued at $3,385,624 in the last 90 days. Company insiders own 5.68% of the company’s stock.

Okta Price Performance

NASDAQ OKTA opened at $71.14 on Wednesday. The firm’s fifty day moving average price is $87.36 and its 200 day moving average price is $88.20. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 65.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Okta, Inc. has a 12 month low of $68.77 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results 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 firm had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. Okta’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company 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 forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has initiated a stock buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKTA. Morgan Stanley lowered their price objective on Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Piper Sandler increased their price objective on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Truist Financial decreased their price objective on shares of Okta from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Susquehanna lowered their target price on shares of Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and an average price target of $112.06.

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.