Okta, Inc. $OKTA Shares Sold by Harber Asset Management LLC

Key Points

• Harber Asset Management LLC reduced its holdings in Okta, Inc. by 16.2%, owning approximately $16.26 million worth of shares after selling 29,806 shares in the first quarter.
• Okta's stock has received various ratings from analysts, including a "buy" rating from Roth Capital with a price target of $119.00, while BMO Capital has set a revised target of $112.00.
• Okta reported an EPS of $0.91 for the last quarter, exceeding analyst expectations, with a 12.7% revenue growth compared to the previous year.

Harber Asset Management LLC lessened its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 16.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 154,527 shares of the company's stock after selling 29,806 shares during the period. Okta makes up 5.8% of Harber Asset Management LLC's holdings, making the stock its 4th largest position. Harber Asset Management LLC owned about 0.09% of Okta worth $16,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of OKTA. Wolff Wiese Magana LLC raised its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Okta in the 1st quarter worth $27,000. Harbour Investments Inc. raised its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Okta in the 1st quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta during the fourth quarter worth $40,000. Institutional investors own 86.64% of the company's stock.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares in the company, valued at $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jonathan James Addison sold 9,000 shares of the business'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 owned 7,067 shares in the company, valued at $706,700. This trade represents a 56.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 target price on shares of Okta in a research report on Wednesday, August 27th. Roth Capital reaffirmed a "buy" rating and set a $119.00 target price on shares of Okta in a research report on Wednesday, May 28th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Scotiabank cut their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Finally, Truist Financial raised Okta from a "hold" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta Trading Up 0.4%

NASDAQ OKTA traded up $0.32 on Wednesday, reaching $89.82. The stock had a trading volume of 3,410,246 shares, compared to its average volume of 3,753,872. The business has a 50 day moving average price of $94.64 and a 200 day moving average price of $102.20. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 105.67, a P/E/G ratio of 4.52 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business's quarterly 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, analysts anticipate 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.