Assenagon Asset Management S.A. Lowers Holdings in Okta, Inc. $OKTA

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Okta, Inc. by 67.0% in the second quarter, now owning 41,586 shares worth approximately $4.16 million.
• Institutional investors control 86.64% of Okta's stock, with significant changes including new positions and increased holdings from firms like Two Sigma Advisers and Wellington Management Group.
• Analysts are divided on Okta's future, with recent price targets ranging from $83.00 (Arete Research) to $140.00 (Westpark Capital), leading to a current consensus rating of "Moderate Buy."

Assenagon Asset Management S.A. reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 67.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,586 shares of the company's stock after selling 84,362 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Okta were worth $4,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Two Sigma Advisers LP purchased a new position in Okta during the fourth quarter valued at $985,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Okta during the fourth quarter valued at about $8,680,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta by 52.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after purchasing an additional 4,171 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Okta by 68.8% in the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company's stock worth $2,683,000 after buying an additional 13,869 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in Okta by 10.5% during the first quarter. Kera Capital Partners Inc. now owns 2,928 shares of the company's stock valued at $308,000 after buying an additional 278 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKTA. UBS Group reduced their price objective on Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 price target on the stock in a research note on Monday, July 7th. BMO Capital Markets dropped their price objective on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research note on Wednesday, August 27th. Westpark Capital restated a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, August 27th. Finally, Jefferies Financial Group increased their price target on shares of Okta from $100.00 to $105.00 and gave the company a "hold" rating in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.25.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares of the company's stock, valued at $12,567,360. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the sale, the insider directly owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This trade represents a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,593 shares of company stock valued at $12,598,168. Company insiders own 5.68% of the company's stock.

Okta Trading Down 2.5%

Shares of NASDAQ:OKTA opened at $89.87 on Thursday. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 105.73, a PEG ratio of 4.51 and a beta of 0.83. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm's 50-day moving average is $93.01 and its 200 day moving average is $101.48.

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

About Okta

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.

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