S&CO Inc. Grows Stock Holdings in Okta, Inc. $OKTA

S&CO Inc. grew its position in Okta, Inc. (NASDAQ:OKTA) by 70.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,451 shares of the company’s stock after purchasing an additional 24,526 shares during the quarter. S&CO Inc.’s holdings in Okta were worth $5,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Okta by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after purchasing an additional 935,364 shares in the last quarter. First Trust Advisors LP increased its position in shares of Okta by 9.1% in the second quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock valued at $489,966,000 after buying an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after buying an additional 179,919 shares during the period. Geode Capital Management LLC raised its position in 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 acquiring an additional 314,525 shares during the period. Finally, Norges Bank purchased a new position in Okta in the 2nd quarter valued at about $211,923,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer directly owned 134,385 shares in the company, valued at $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Robert Kelleher sold 8,370 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total value of $754,890.30. Following the completion of the sale, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $1,016,080.54. This trade represents a 42.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 35,409 shares of company stock worth $3,232,373. Company insiders own 5.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OKTA. Stifel Nicolaus reduced their target price on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Berenberg Bank assumed coverage on Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price objective on the stock. TD Cowen restated a “hold” rating on shares of Okta in a research note on Wednesday, December 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. Twenty-five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.88.

Okta Price Performance

NASDAQ:OKTA opened at $88.18 on Tuesday. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57. The firm has a market capitalization of $15.63 billion, a PE ratio of 80.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.77. The business’s fifty day moving average price is $88.69 and its 200 day moving average price is $89.39.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Okta announced that its board has initiated a share repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.