Comerica Bank Has $18.37 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Comerica Bank has sold 2,741 shares of Okta, Inc., reducing its stake by 1.5% and now holding 174,617 shares valued at approximately $18.37 million.
• Okta's recent earnings report showed a revenue increase of 11.5% year-over-year, with earnings per share exceeding analysts' estimates at $0.86.
• Several institutional investors significantly increased their holdings in Okta during the fourth quarter, with Stifel Financial Corp raising its stake by 86.3% to own over 69,000 shares.

Comerica Bank decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,617 shares of the company's stock after selling 2,741 shares during the quarter. Comerica Bank owned 0.10% of Okta worth $18,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Okta by 3.4% during the first 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after purchasing an additional 4,171 shares during the last quarter. Trek Financial LLC acquired a new stake in Okta during the first quarter valued at $426,000. Merit Financial Group LLC acquired a new stake in Okta during the first quarter valued at $823,000. Finally, Stephens Investment Management Group LLC boosted its position in Okta by 10.4% during the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock valued at $52,518,000 after purchasing an additional 46,818 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Stock Performance

Shares of NASDAQ OKTA traded down $0.44 during trading hours on Thursday, hitting $92.59. 7,073,265 shares of the company's stock were exchanged, compared to its average volume of 3,983,655. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.35 and a quick ratio of 1.47. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 108.93, a PEG ratio of 4.46 and a beta of 0.80. The company's 50-day moving average price is $95.07 and its 200-day moving average price is $102.29.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $728,000 billion during the quarter, compared to analysts' expectations of $711.84 million. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. 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 expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday. Loop Capital assumed coverage on Okta in a research report on Monday, May 5th. They set a "buy" rating and a $140.00 price objective for the company. Citigroup reissued a "market perform" rating on shares of Okta in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of Okta in a research report on Wednesday. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.25.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. The trade was a 69.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the transaction, the chief executive officer directly owned 20,682 shares of the company's stock, valued at approximately $1,970,994.60. This trade represents a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 in the last ninety days. 5.68% of the stock is owned by insiders.

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.