Okta, Inc. $OKTA Stock Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its position in Okta, Inc. (NASDAQ:OKTA) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,432 shares of the company’s stock after selling 3,565 shares during the period. Oppenheimer & Co. Inc.’s holdings in Okta were worth $1,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in Okta in the third quarter valued at approximately $26,000. Washington Trust Advisors Inc. lifted its holdings in shares of Okta by 64.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. Polaris Financial Partners acquired a new stake in Okta in the 3rd quarter valued at $36,000. MassMutual Private Wealth & Trust FSB grew its position in Okta by 279.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Finally, Assetmark Inc. increased its stake in Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta was viewed favorably versus SentinelOne because of stronger profitability, robust cash flow and expanding capabilities for securing AI agents. However, the comparison also noted that Okta’s revenue growth is slower. OKTA vs. S: Which Enterprise Cybersecurity Stock Has an Edge Now?
• Positive Sentiment: Okta is expanding its Agent Identity Platform and has reported multimillion-dollar customer wins and new tools aimed at securing AI agents. The opportunity could support future growth, although adoption has not yet translated into a significant revenue contribution. Can Okta’s Agent Identity Platform Capture the AI Security Opportunity?
• Positive Sentiment: CNBC coverage highlighted Okta as one of Josh Brown’s preferred stocks, while noting that he was trading around a pullback. The endorsement may reinforce the bullish investment case but is not a change to Okta’s fundamentals. There’s a cybersecurity stock on Josh Brown’s list that’s pulling back
• Neutral Sentiment: Analyst coverage emphasized that OKTA has risen about 157.5% year to date on demand for identity security and AI, but investors must balance that momentum against slower growth, competition and a premium valuation. Okta Surges 158% YTD: Should Investors Hold the Stock Now?
• Negative Sentiment: Reports alleged that records belonging to more than 40,000 DHS employees were leaked and published online via DDoSecrets. Okta said its core systems were not compromised, which may limit direct operational concerns, but the incident still creates reputational and cybersecurity risk. Over 40,000 U.S. DHS employee records allegedly leaked via Okta

Insider Transactions at Okta

In related news, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the transaction, the chief executive officer owned 44,029 shares of the company’s stock, valued at approximately $8,518,730.92. This trade represents a 52.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction on Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider owned 18,668 shares in the company, valued at approximately $3,427,071.44. The trade was a 25.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Guggenheim upped their price objective on shares of Okta from $188.00 to $227.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Mizuho lifted their price target on Okta from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, September 24th. Evercore reiterated an “outperform” rating and issued a $240.00 target price on shares of Okta in a report on Thursday, September 24th. HC Wainwright initiated coverage on Okta in a report on Monday, July 6th. They set a “buy” rating on the stock. Finally, KeyCorp set a $240.00 price target on Okta and gave the company an “overweight” rating in a report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.38.

Okta Stock Down 6.1%

NASDAQ OKTA opened at $208.24 on Friday. The stock’s 50-day simple moving average is $192.78 and its two-hundred day simple moving average is $124.67. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $235.00. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 125.45, a PEG ratio of 6.48 and a beta of 0.73.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts expect that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Okta Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.