Focus Partners Advisor Solutions LLC Takes Position in Okta, Inc. $OKTA

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Okta, purchasing 4,891 shares valued at approximately $515,000.
• Insider trading activity was notable, with CFO Brett Tighe selling 10,000 shares for $950,000, reducing his ownership by 7.03%.
• Okta reported stronger-than-expected quarterly earnings, achieving $0.91 EPS, exceeding the consensus estimate of $0.84.

Focus Partners Advisor Solutions LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,891 shares of the company's stock, valued at approximately $515,000.

Several other large investors also recently modified their holdings of OKTA. Wolff Wiese Magana LLC grew its stake 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 in the last quarter. Wayfinding Financial LLC acquired a new position in Okta in the first quarter worth about $27,000. Harbour Investments Inc. grew its stake 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 in the last quarter. Rossby Financial LCC acquired a new position in Okta in the first quarter worth about $31,000. Finally, Center for Financial Planning Inc. acquired a new position in Okta in the first quarter worth about $47,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,594 shares of company stock valued at $8,382,790. 5.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKTA shares. Scotiabank decreased their price target on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 27th. JMP Securities reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 target price on the stock in a report on Monday, July 7th. Finally, Bank of America reissued an "underperform" rating and issued a $75.00 target price on shares of Okta in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $118.25.

Okta Trading Up 1.9%

Shares of NASDAQ OKTA opened at $91.48 on Friday. The stock has a 50 day simple moving average of $94.16 and a 200-day simple moving average of $102.03. The company has a market cap of $16.02 billion, a PE ratio of 107.62, a P/E/G ratio of 4.37 and a beta of 0.83. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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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