Okta, Inc. $OKTA Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Okta, Inc. (NASDAQ:OKTA) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,540 shares of the company’s stock after selling 8,677 shares during the period. Envestnet Asset Management Inc.’s holdings in Okta were worth $8,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock worth $389,308,000 after acquiring an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC purchased a new stake in Okta during the 1st quarter worth approximately $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 purchasing an additional 1,189,222 shares in the last quarter. Ninety One UK Ltd raised its position in shares of Okta by 52.1% in the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock valued at $274,370,000 after purchasing an additional 939,589 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Okta during the 1st quarter valued at approximately $78,094,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider directly owned 9,174 shares of the company’s stock, valued at $841,531.02. The trade was a 20.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total transaction of $120,794.70. Following the completion of the transaction, the insider owned 37,837 shares of the company’s stock, valued at approximately $3,467,761.05. This trade represents a 3.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 63,657 shares of company stock worth $5,898,754 over the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 27th. Bank of America reissued an “underperform” rating and issued a $75.00 target price on shares of Okta in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. DA Davidson reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Friday, September 26th. Finally, Jefferies Financial Group boosted their price objective on Okta from $100.00 to $105.00 and gave the company a “hold” rating in a report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus price target of $118.94.

Okta Price Performance

NASDAQ:OKTA opened at $85.21 on Monday. The firm has a market capitalization of $14.92 billion, a P/E ratio of 100.25, a P/E/G ratio of 4.18 and a beta of 0.84. The business has a 50 day simple moving average of $90.41 and a 200 day simple moving average of $98.20. Okta, Inc. has a 12-month low of $71.84 and a 12-month high of $127.57.

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

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.