Baird Financial Group Inc. Acquires New Holdings in Okta, Inc. $OKTA

Key Points

• Baird Financial Group Inc. has acquired a new stake in Okta, Inc., purchasing 14,575 shares valued at approximately $1,534,000 during the first quarter.
• Insider transactions involved significant sales, with Okta's Chief Revenue Officer selling 9,000 shares for $900,000, reflecting a substantial decrease in ownership.
• Okta's stock has a current market cap of $16.02 billion, with recent earnings showing a 12.7% year-over-year revenue growth, and analysts have a consensus target price of $118.25.

Baird Financial Group Inc. acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,575 shares of the company's stock, valued at approximately $1,534,000.

Several other institutional investors also recently bought and sold shares of OKTA. Wolff Wiese Magana LLC increased its holdings in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after buying an additional 154 shares during the period. Wayfinding Financial LLC purchased a new position in Okta in the first quarter worth $27,000. Harbour Investments Inc. grew its holdings 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 purchasing an additional 157 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Okta during the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta during the fourth quarter worth $40,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction on 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 in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 over the last 90 days. Insiders own 5.68% of the company's stock.

Okta Price Performance

NASDAQ OKTA opened at $91.48 on Monday. The stock's fifty day moving average price is $94.16 and its 200 day moving average price is $102.11. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 107.62, a PEG ratio of 4.46 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $711.84 million. During the same period in the prior year, the firm earned $0.72 EPS. The firm's 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. Research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Bank of America reaffirmed an "underperform" rating and set a $75.00 price target on shares of Okta in a research report on Wednesday, August 27th. Citigroup reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Zacks Research downgraded Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Finally, Arete assumed coverage on Okta in a research report on Monday, July 7th. They set a "sell" rating and a $83.00 price target on the stock. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus target price of $118.25.

Okta Company 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.

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