Okta, Inc. $OKTA Stock Holdings Lessened by Smith Group Asset Management LLC

Smith Group Asset Management LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 37.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,728 shares of the company’s stock after selling 150,642 shares during the period. Okta comprises 3.5% of Smith Group Asset Management LLC’s portfolio, making the stock its 7th largest position. Smith Group Asset Management LLC’s holdings in Okta were worth $53,475,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC raised its position in Okta by 5.5% during the 3rd quarter. Park Avenue Securities LLC now owns 3,166 shares of the company’s stock valued at $662,000 after purchasing an additional 166 shares during the last quarter. Montgomery Investment Management Inc. purchased a new stake in Okta in the 3rd quarter worth approximately $251,000. Verdence Capital Advisors LLC lifted its holdings in Okta by 57.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,095 shares of the company’s stock worth $1,065,000 after buying an additional 1,864 shares during the period. Westover Capital Advisors LLC bought a new stake in shares of Okta in the 3rd quarter worth approximately $204,000. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Okta by 24.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,919 shares of the company’s stock worth $401,000 after buying an additional 382 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst upgrade supports sentiment. Zacks Research upgraded Okta from “hold” to “strong buy,” potentially encouraging additional investor interest. Zacks Research analyst rating
• Positive Sentiment: Strong cash generation differentiates Okta. A comparison with monday.com highlighted Okta’s fiscal 2026 revenue growth of 12%, $863 million in free cash flow, and a 28% free-cash-flow margin in its latest quarter. Those figures reinforce the company’s financial flexibility and recurring-revenue profile. Monday.com versus Okta comparison
• Positive Sentiment: AI-agent security is creating a potential growth opportunity. Okta executives said risk leaders increasingly want assurance that companies can control AI agents and distinguish legitimate agents from malicious bots. The trend could increase demand for identity, authentication, and access-management solutions. Okta AI-agent security article
• Neutral Sentiment: Cybersecurity remains a powerful but volatile theme. A surge in AI-discovered vulnerabilities is increasing attention on cybersecurity providers, which may benefit Okta’s category, but the broader group has already experienced substantial gains and sharp trading swings. Cybersecurity stock market article
• Negative Sentiment: Valuation leaves limited room for disappointment. Okta is trading above the reported analyst consensus price target of $202.38, while its elevated valuation makes investors more sensitive to any slowdown in growth or weaker guidance. Okta consensus price target

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKTA. Wells Fargo & Company boosted their target price on Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. Capital One Financial set a $171.00 price target on Okta and gave the stock an “overweight” rating in a research note on Thursday, July 16th. HC Wainwright assumed coverage on Okta in a research note on Monday, July 6th. They issued a “buy” rating for the company. Weiss Ratings cut shares of Okta from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Finally, Raymond James Financial lifted their price target on shares of Okta from $115.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Stock Performance

OKTA stock opened at $222.66 on Thursday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $235.00. The business’s 50 day moving average price is $189.69 and its two-hundred day moving average price is $123.45. The company has a market capitalization of $38.93 billion, a price-to-earnings ratio of 134.13, a price-to-earnings-growth ratio of 6.63 and a beta of 0.73.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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. Sell-side analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the sale, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,766 shares of company stock valued at $23,927,112 over the last ninety days. Company insiders own 4.61% of the company’s stock.

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.