Ballentine Partners LLC Has $1.63 Million Stock Holdings in Okta, Inc. $OKTA

Key Points

• Ballentine Partners LLC significantly increased its stake in Okta, Inc. by 521.6% in the second quarter, now owning shares valued at approximately $1.63 million.
• Insider trades show notable selling, with CEO Todd Mckinnon selling 31,968 shares for almost $2.95 million in late September.
• Okta's recent quarterly earnings exceeded expectations, reporting $0.91 earnings per share, and the company's revenue grew by 12.7% year-over-year.

Ballentine Partners LLC boosted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 521.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,316 shares of the company's stock after purchasing an additional 13,691 shares during the quarter. Ballentine Partners LLC's holdings in Okta were worth $1,631,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its holdings in Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in Okta in the second quarter worth $26,000. Wayfinding Financial LLC bought a new position in shares of Okta in the first quarter valued at $27,000. Harbour Investments Inc. lifted its stake in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after buying an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in shares of Okta in the first quarter valued at $31,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 8,522 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.62, for a total transaction of $789,307.64. Following the completion of the sale, the insider owned 9,174 shares in the company, valued at approximately $849,695.88. This trade represents a 48.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold a total of 134,593 shares of company stock valued at $12,598,168 in the last three months. 5.68% of the stock is owned by corporate insiders.

Okta Price Performance

OKTA opened at $89.87 on Thursday. The company's 50-day moving average is $93.01 and its 200 day moving average is $101.48. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The firm has a market capitalization of $15.73 billion, a P/E ratio of 105.73, a PEG ratio of 4.51 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the firm earned $0.72 earnings per share. 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. On average, equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OKTA shares. Canaccord Genuity Group raised shares of Okta from a "hold" rating to a "buy" rating and raised their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Truist Financial raised shares of Okta from a "hold" rating to a "buy" rating and raised their price objective for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Roth Capital reaffirmed a "buy" rating and issued a $119.00 price objective on shares of Okta in a research note on Wednesday, May 28th. Finally, BMO Capital Markets dropped their price objective on shares of Okta from $132.00 to $112.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.25.

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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