Odyssean LLC Cuts Stock Holdings in Okta, Inc. $OKTA

Odyssean LLC trimmed its position in Okta, Inc. (NASDAQ:OKTA) by 19.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,437 shares of the company’s stock after selling 3,218 shares during the period. Odyssean LLC’s holdings in Okta were worth $1,833,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SHP Wealth Management purchased a new stake in Okta during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after acquiring an additional 218 shares in the last quarter. Assetmark Inc. lifted its holdings in Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after purchasing an additional 322 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Okta by 1,265.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock valued at $59,000 after buying an additional 696 shares in the last quarter. Finally, EFG International AG bought a new stake in shares of Okta during the fourth quarter valued at about $61,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In related news, insider Eric Kelleher sold 3,977 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the sale, the insider directly owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. The trade was a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 220,376 shares of company stock valued at $31,355,385 over the last 90 days. 4.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus set a $180.00 price objective on shares of Okta in a research note on Thursday, August 27th. Citigroup reiterated a “market outperform” rating on shares of Okta in a research report on Thursday, August 27th. Wells Fargo & Company upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $180.00 in a research report on Monday, August 17th. Raymond James Financial increased their price target on shares of Okta from $115.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group lifted their price objective on Okta from $126.00 to $203.00 and gave the stock a “buy” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $172.92.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst estimates increased: Scotiabank reportedly raised its earnings estimates for Okta, adding support to the bullish outlook following the company’s better-than-expected quarterly results. Scotiabank Brokers Increase Earnings Estimates for Okta
• Positive Sentiment: Momentum remains favorable: Zacks highlighted Okta as a strong long-term momentum stock, reflecting its improving earnings performance, revenue growth and favorable price trends. The company recently reported revenue of $805 million, up 10.6% year over year, and adjusted EPS of $1.05 versus the $0.96 consensus estimate. Why Okta Is a Top Momentum Stock for the Long-Term
• Positive Sentiment: AI-agent opportunity strengthens the investment case: Commentary suggests Okta could benefit as businesses require identity, access and security controls for AI agents and other automated systems. This supports the company’s longer-term growth narrative. Okta AI Agents Strengthen My Thesis, But Valuation Is Catching Up
• Neutral Sentiment: Identity-security industry discussion: A comparison of Okta’s and Microsoft’s approaches underscores the growing importance of identity security, but does not identify a specific new contract or near-term financial catalyst for OKTA. What Okta and Microsoft’s Approaches Tell Us About the Future of Identity Security
• Negative Sentiment: Valuation is becoming a concern: With shares trading near their 52-week high and at roughly 103 times earnings, bullish coverage cautions that expectations may already reflect much of Okta’s growth potential. Why Okta Is a Top Momentum Stock for the Long Term
• Negative Sentiment: CFO insider selling: CFO Brett Tighe sold a combined 80,000 Okta shares for approximately $12.9 million. Both transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but the scale of the sales could weigh on sentiment. Okta CFO SEC Form 4 Filing

Okta Price Performance

NASDAQ:OKTA opened at $170.60 on Friday. The firm’s 50-day moving average price is $146.29 and its 200-day moving average price is $108.37. The company has a market capitalization of $29.65 billion, a PE ratio of 102.77, a P/E/G ratio of 5.36 and a beta of 0.79. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $174.85.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities analysts anticipate that Okta, Inc. will post 1.9 EPS for the current fiscal year.

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.