Callan Family Office LLC Takes $399,000 Position in Okta, Inc. $OKTA

Key Points

• Callan Family Office LLC has acquired a new position in Okta, Inc., purchasing 3,990 shares valued at approximately $399,000.
• Several hedge funds, including Vanguard Group and Massachusetts Financial Services, have significantly increased their holdings in Okta during the first quarter, contributing to institutional investors owning 86.64% of the company's stock.
• CEO Todd Mckinnon sold 31,968 shares for over $2.9 million recently, indicating notable insider trading activity amid a volatile market environment.

Callan Family Office LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 3,990 shares of the company's stock, valued at approximately $399,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after buying an additional 2,830,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock valued at $289,234,000 after buying an additional 1,189,222 shares during the period. Ninety One UK Ltd raised its holdings in shares of Okta by 52.1% during the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company's stock valued at $274,370,000 after buying an additional 939,589 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Okta by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after buying an additional 100,411 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 31,968 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 3,348 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the transaction, the insider owned 39,155 shares of the company's stock, valued at $3,530,606.35. This represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,249 shares of company stock worth $10,759,471. 5.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on OKTA shares. Arete Research upgraded Okta to a "strong sell" rating and set a $83.00 target price on the stock in a report on Monday, July 7th. Jefferies Financial Group raised their price objective on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research note on Wednesday, August 27th. Westpark Capital restated a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, August 27th. DA Davidson restated a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Friday, September 26th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Okta in a research note on Wednesday, October 8th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $118.94.

Okta Trading Down 0.8%

Shares of OKTA opened at $88.35 on Thursday. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 103.94, a PEG ratio of 4.37 and a beta of 0.84. The stock has a 50 day moving average of $91.43 and a 200-day moving average of $99.42. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share 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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