Okta, Inc. $OKTA Shares Sold by Eminence Capital LP

Key Points

• Eminence Capital LP reduced its stake in Okta, Inc. by 3.1%, holding 2,484,344 shares after selling 80,571 shares, which constitutes approximately 4.4% of their total holdings.
• Institutional ownership of Okta now stands at 86.64%, with several hedge funds increasing their positions, including Ameriprise Financial, which grew its stake by 2,135.7%.
• Okta's stock is currently priced at $89.82, with a market capitalization of $15.72 billion and a P/E ratio of 105.67, indicating a high valuation compared to earnings.

Eminence Capital LP decreased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,484,344 shares of the company's stock after selling 80,571 shares during the quarter. Okta makes up 4.4% of Eminence Capital LP's portfolio, making the stock its 2nd biggest holding. Eminence Capital LP owned 1.43% of Okta worth $261,403,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Okta by 3.4% in the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after acquiring an additional 582,956 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 4,171 shares in the last quarter. Trek Financial LLC purchased a new stake in shares of Okta during the first quarter worth about $426,000. Merit Financial Group LLC purchased a new position in Okta during the 1st quarter valued at approximately $823,000. Finally, Stephens Investment Management Group LLC grew its holdings in Okta by 10.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock valued at $52,518,000 after buying an additional 46,818 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the completion of the transaction, the executive directly owned 7,067 shares of the company's stock, valued at $706,700. This represents a 56.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the transaction, the chief executive officer directly owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 in the last quarter. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

OKTA traded up $1.20 during trading on Monday, reaching $92.68. The company's stock had a trading volume of 2,346,705 shares, compared to its average volume of 3,738,122. The company's fifty day moving average price is $94.16 and its 200-day moving average price is $102.11. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 109.04, a price-to-earnings-growth ratio of 4.46 and a beta of 0.83. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion for 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%.Okta's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company 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. Equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Citigroup reissued a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Scotiabank lowered their price target on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 27th. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price target for the company in a report on Monday, July 7th. Stifel Nicolaus boosted their price objective on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, BMO Capital Markets dropped their price target on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company 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.