Okta, Inc. $OKTA Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its holdings in Okta, Inc. (NASDAQ:OKTA) by 94.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,691 shares of the company’s stock after selling 284,139 shares during the period. Jupiter Asset Management Ltd.’s holdings in Okta were worth $1,531,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Okta during the third quarter valued at about $26,000. Promus Capital LLC purchased a new stake in Okta during the 2nd quarter worth approximately $27,000. Cullen Frost Bankers Inc. grew its position in Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares during the last quarter. Westside Investment Management Inc. increased its stake in Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after purchasing an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Okta in the third quarter worth $40,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This trade represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 1,836 shares of Okta stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.47, for a total transaction of $153,250.92. Following the transaction, the insider directly owned 36,328 shares of the company’s stock, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is currently owned by company insiders.

Okta Stock Performance

NASDAQ OKTA opened at $74.29 on Friday. The firm has a market capitalization of $13.17 billion, a P/E ratio of 68.16, a PEG ratio of 2.98 and a beta of 0.77. The stock has a 50-day simple moving average of $88.12 and a two-hundred day simple moving average of $88.58. Okta, Inc. has a fifty-two week low of $73.74 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $742.00 million for 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%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has initiated a stock repurchase program on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Okta in a report on Monday, January 12th. TD Cowen reaffirmed a “hold” rating on shares of Okta in a research report on Wednesday, December 3rd. Susquehanna dropped their price target on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. Finally, Stifel Nicolaus decreased their target price on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Twenty-five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.56.

Okta Company 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.