Jackson Square Partners LLC Sells 8,001 Shares of Okta, Inc. $OKTA

Jackson Square Partners LLC lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,349 shares of the company’s stock after selling 8,001 shares during the quarter. Jackson Square Partners LLC’s holdings in Okta were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OKTA. Root Financial Partners LLC bought a new stake in shares of Okta in the 3rd quarter valued at about $26,000. Promus Capital LLC bought a new position in Okta during the 2nd quarter worth approximately $27,000. Kiker Wealth Management LLC increased its stake in Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in shares of Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider directly owned 38,164 shares in the company, valued at $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,727 shares of company stock worth $3,344,746 in the last ninety days. 5.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OKTA shares. TD Cowen reiterated a “hold” rating on shares of Okta in a report on Wednesday, December 3rd. BTIG Research decreased their price objective on shares of Okta from $142.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Wall Street Zen downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Saturday. Berenberg Bank began coverage on Okta in a research note on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.88.

Okta Stock Up 5.6%

NASDAQ OKTA opened at $86.74 on Friday. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57. The firm has a market capitalization of $15.37 billion, a PE ratio of 79.58, a P/E/G ratio of 3.46 and a beta of 0.77. The stock’s 50 day moving average is $88.54 and its 200 day moving average is $89.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last 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. On average, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has initiated a share buyback program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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.