Okta, Inc. $OKTA Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in Okta, Inc. (NASDAQ:OKTA) by 298.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,503 shares of the company’s stock after purchasing an additional 37,820 shares during the period. Thrivent Financial for Lutherans’ holdings in Okta were worth $5,049,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OKTA. Pinnacle Bancorp Inc. acquired a new position in shares of Okta during the second quarter worth approximately $26,000. Promus Capital LLC bought a new stake in Okta during the 2nd quarter valued at $27,000. Kiker Wealth Management LLC boosted its position in Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after acquiring an additional 313 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Okta by 126.0% during the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 1,318 shares of Okta stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $85.71, for a total value of $112,965.78. Following the completion of the transaction, the insider owned 35,201 shares in the company, valued at $3,017,077.71. The trade was a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,332 shares of company stock valued at $4,468,808. 5.68% of the stock is owned by corporate insiders.

Okta Trading Down 0.0%

Shares of NASDAQ:OKTA opened at $90.21 on Friday. The stock has a market capitalization of $15.99 billion, a PE ratio of 82.76, a P/E/G ratio of 4.26 and a beta of 0.77. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The firm has a fifty day moving average price of $86.13 and a 200 day moving average price of $91.80.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. 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 forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. BTIG Research decreased their target price on shares of Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a report on Wednesday. Robert W. Baird dropped their target price on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Truist Financial raised Okta from a “hold” rating to a “buy” rating and increased their price target for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Finally, Jefferies Financial Group raised Okta from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $125.00 in a research note on Tuesday. Twenty-four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $113.62.

Okta Profile

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.