Okta, Inc. $OKTA Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 56.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,769 shares of the company’s stock after selling 18,987 shares during the period. Savant Capital LLC’s holdings in Okta were worth $1,354,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Smith Group Asset Management LLC grew its position in shares of Okta by 2.0% during the second quarter. Smith Group Asset Management LLC now owns 242,793 shares of the company’s stock worth $24,272,000 after acquiring an additional 4,798 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Okta during the third quarter worth about $7,946,000. SBI Securities Co. Ltd. grew its stake in shares of Okta by 35.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock worth $3,580,000 after purchasing an additional 9,340 shares during the last quarter. Stableford Capital II LLC bought a new position in shares of Okta in the second quarter valued at $565,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Okta during the second quarter worth $30,074,000. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Up 1.7%

Okta stock opened at $88.18 on Tuesday. The company’s 50-day moving average is $88.69 and its two-hundred day moving average is $89.39. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The company has a market cap of $15.63 billion, a PE ratio of 80.90, a PEG ratio of 3.46 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 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 company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s revenue for the quarter 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. Research analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages recently commented on OKTA. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Okta from $110.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, December 3rd. Citigroup reissued a “neutral” rating on shares of Okta in a research report on Monday, January 12th. Stifel Nicolaus decreased their target price on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Stephens raised shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $97.00 to $120.00 in a research report on Wednesday, January 14th. Finally, UBS Group reissued a “buy” rating on shares of Okta in a report on Thursday, December 4th. Twenty-five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $113.88.

Insider Activity

In other news, insider Eric Robert Kelleher sold 8,370 shares of the business’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 transaction, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. The trade was a 42.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. The trade was a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,409 shares of company stock valued at $3,232,373. 5.68% of the stock is owned by company insiders.

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.