CenterBook Partners LP Lowers Position in Okta, Inc. $OKTA

CenterBook Partners LP reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 76.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,277 shares of the company’s stock after selling 111,750 shares during the period. CenterBook Partners LP’s holdings in Okta were worth $3,235,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC acquired a new stake in shares of Okta during the first quarter valued at about $225,000. NewEdge Advisors LLC boosted its position in shares of Okta by 853.4% during the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after purchasing an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new stake in Okta in the 2nd quarter valued at approximately $244,000. Sequoia Financial Advisors LLC increased its holdings in Okta by 35.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,421 shares of the company’s stock valued at $342,000 after purchasing an additional 903 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new stake in Okta in the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: JPMorgan included Okta on a list of 18 “mispriced” tech names that it views as insulated from AI disruption — a high‑profile bank endorsement that can attract institutional buyers. JPMorgan says to buy these 18 ‘mispriced’ tech stocks
• Positive Sentiment: The Motley Fool named Okta as one of two “monster stocks to hold for the next 10 years,” highlighting durable demand from AI/security tailwinds — a supportive long‑horizon narrative for buy-and-hold investors. 2 Monster Stocks to Hold for the Next 10 Years
• Positive Sentiment: Brokerage consensus remains constructive: a summary piece reports an average analyst rating of “Moderate Buy,” which supports demand vs. purely bearish views. Okta Receives Average Rating of Moderate Buy
• Positive Sentiment: Okta is pushing its identity/security story in India, arguing “trust” will matter for AI-first enterprises — signals potential market expansion and enterprise demand growth. Why Okta believes trust, not speed, will define India’s AI-first enterprises
• Neutral Sentiment: Benzinga compiled 26 analyst projections for Okta — useful for gauging the range of expectations but not a single directional catalyst. Forecasting The Future: 26 Analyst Projections For Okta
• Neutral Sentiment: TipRanks covered a BMO Capital note (Keith Bachman) that maintained a Hold: it cites improving fundamentals but limited near‑term upside and execution risk — a balanced view that tempers momentum. Balanced View on Okta
• Neutral Sentiment: Zacks noted Okta as a trending ticker — increased retail/coverage attention can raise short‑term volume but isn’t a direct buy/sell signal. Here is What to Know Beyond Why Okta is a Trending Stock
• Negative Sentiment: Mizuho cut its price target from $110 to $100 while keeping an Outperform rating — a downgrade of upside expectations that can cap near‑term gains despite the positive rating. OKTA price target lowered at Mizuho

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the completion of the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,245 shares of company stock valued at $3,385,624 over the last quarter. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $82.93 on Thursday. The business has a 50-day simple moving average of $88.62 and a 200-day simple moving average of $88.84. Okta, Inc. has a one year low of $75.05 and a one year high of $127.57. The company has a market cap of $14.70 billion, a PE ratio of 76.08, a P/E/G ratio of 3.29 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating 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 firm had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter last year, the company 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. On average, sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its Board of Directors has approved a stock buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group upgraded Okta from a “hold” rating to a “buy” rating and raised their price target for the stock from $90.00 to $125.00 in a research report on Tuesday, December 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Okta in a research note on Wednesday, December 17th. Barclays lowered their target price on Okta from $112.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, November 18th. Mizuho cut their price target on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.56.

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.