Fluent Financial LLC Boosts Stake in Okta, Inc. $OKTA

Fluent Financial LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 64.8% during the third quarter, Holdings Channel reports. The fund owned 17,844 shares of the company’s stock after purchasing an additional 7,019 shares during the quarter. Fluent Financial LLC’s holdings in Okta were worth $1,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Okta by 5.3% in the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock valued at $1,872,263,000 after purchasing an additional 935,364 shares during the last quarter. First Trust Advisors LP raised its position in shares of Okta by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock valued at $489,966,000 after purchasing an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Okta by 20.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock valued at $445,432,000 after buying an additional 755,709 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Okta by 11.1% during the second quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock worth $314,488,000 after buying an additional 314,525 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Okta by 76.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after buying an additional 1,189,222 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 2,410 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was 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 in the company, valued at $841,531.02. This represents a 20.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer owned 133,336 shares in the company, valued at $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,332 shares of company stock valued at $4,468,808 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Down 0.0%

OKTA opened at $90.21 on Friday. The company’s 50-day moving average price is $86.13 and its 200 day moving average price is $91.72. Okta, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 82.76, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on OKTA shares. Stifel Nicolaus reduced their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. Roth Capital restated a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Scotiabank decreased their price target on Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Okta from $110.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, December 3rd. Finally, Guggenheim restated a “buy” rating and set a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Twenty-four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.