Penserra Capital Management LLC Sells 21,352 Shares of Okta, Inc. $OKTA

Penserra Capital Management LLC lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 881,233 shares of the company’s stock after selling 21,352 shares during the quarter. Okta makes up approximately 1.2% of Penserra Capital Management LLC’s holdings, making the stock its 14th biggest position. Penserra Capital Management LLC’s holdings in Okta were worth $88,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Harbour Investments Inc. increased its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Okta in the 2nd quarter worth approximately $26,000. Cullen Frost Bankers Inc. raised its stake 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 acquiring an additional 159 shares during the period. Kiker Wealth Management LLC raised its stake 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. Finally, V Square Quantitative Management LLC lifted its holdings in 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 in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Performance

Shares of Okta stock opened at $85.21 on Friday. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.84. The stock has a 50 day moving average price of $90.41 and a 200-day moving average price of $98.18. Okta, Inc. has a one year low of $71.84 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.Okta’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Canaccord Genuity Group raised Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. BTIG Research reaffirmed a “buy” rating and issued a $142.00 price objective on shares of Okta in a research note on Friday, September 26th. BMO Capital Markets decreased their target price on Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Finally, DA Davidson restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.94.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the transaction, the insider owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. The trade was a 20.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 63,657 shares of company stock worth $5,898,754. 5.68% of the stock is currently owned by insiders.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.