Prospera Financial Services Inc Acquires 8,346 Shares of Okta, Inc. $OKTA

Prospera Financial Services Inc increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 79.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,869 shares of the company’s stock after acquiring an additional 8,346 shares during the period. Prospera Financial Services Inc’s holdings in Okta were worth $1,886,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. bought a new stake in Okta during the 2nd quarter worth approximately $26,000. Harbour Investments Inc. boosted its position in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares during the last quarter. Kiker Wealth Management LLC grew its holdings in Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after buying an additional 159 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Okta by 126.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total transaction of $120,794.70. Following the transaction, the insider owned 37,837 shares in the company, valued at $3,467,761.05. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 63,657 shares of company stock valued at $5,898,754. 5.68% of the stock is currently owned by company insiders.

Okta Price Performance

Shares of OKTA stock opened at $85.58 on Wednesday. The company has a market cap of $14.98 billion, a PE ratio of 100.68, a price-to-earnings-growth ratio of 4.21 and a beta of 0.84. Okta, Inc. has a 1 year low of $71.84 and a 1 year high of $127.57. The stock’s 50 day simple moving average is $90.19 and its two-hundred day simple moving average is $97.97.

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

Analysts Set New Price Targets

OKTA has been the topic of a number of analyst reports. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their target price for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Robert W. Baird cut their price target on shares of Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Westpark Capital reiterated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Wednesday, August 27th. BTIG Research reissued a “buy” rating and set a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Finally, Barclays upped their target price on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.91.

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.