Jennison Associates LLC Takes $900,000 Position in Okta, Inc. $OKTA

Jennison Associates LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 8,998 shares of the company’s stock, valued at approximately $900,000.

Several other hedge funds also recently modified their holdings of OKTA. Massachusetts Financial Services Co. MA grew its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock valued at $389,308,000 after acquiring an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC bought a new position in shares of Okta in the 1st quarter valued at about $199,918,000. Ninety One UK Ltd bought a new position in shares of Okta in the 1st quarter valued at about $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after acquiring an additional 1,189,222 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Okta in the 1st quarter valued at about $78,094,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of Okta in a report on Wednesday, August 27th. DA Davidson restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, September 26th. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Finally, Guggenheim restated a “buy” rating and issued a $138.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.94.

Okta Trading Up 4.1%

NASDAQ OKTA opened at $91.53 on Friday. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57. The company has a 50 day moving average of $90.91 and a 200-day moving average of $98.53. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 107.68, a PEG ratio of 4.49 and a beta of 0.84.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares in the company, valued at $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 63,657 shares of company stock valued at $5,898,754 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.