Jump Financial LLC Decreases Stock Holdings in Okta, Inc. $OKTA

Key Points

• Jump Financial LLC reduced its holdings in Okta, Inc. by 94.6%, selling 40,379 shares and leaving them with only 2,289 shares valued at $241,000 as of the last quarter.
• Analysts have mixed opinions on Okta's stock; with Canaccord Genuity upgrading it to a "buy" and raising the price target to $120.00, while 22 analysts generally rate it a "Buy" and three give it a "Sell".
• Okta reported earnings of $0.91 per share, surpassing estimates, and projected revenues of $3.330-$3.380 EPS for FY 2026, reflecting a 12.7% year-over-year revenue increase.

Jump Financial LLC lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,289 shares of the company's stock after selling 40,379 shares during the quarter. Jump Financial LLC's holdings in Okta were worth $241,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OKTA. Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 2,830,582 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of Okta during the 1st quarter valued at approximately $189,915,000. Point72 Asset Management L.P. increased its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the last quarter. Finally, Sachem Head Capital Management LP bought a new position in shares of Okta during the 4th quarter valued at approximately $105,592,000. Institutional investors own 86.64% of the company's stock.

Okta Stock Up 0.2%

NASDAQ:OKTA traded up $0.19 during mid-day trading on Tuesday, reaching $92.87. The company's stock had a trading volume of 785,932 shares, compared to its average volume of 3,720,462. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock has a fifty day moving average of $94.02 and a 200-day moving average of $102.11. The firm has a market capitalization of $16.26 billion, a PE ratio of 109.40, a price-to-earnings-growth ratio of 4.46 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm's revenue for the quarter 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 expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKTA. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Okta in a research report on Wednesday, August 27th. DA Davidson cut their price objective on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Truist Financial raised Okta from a "hold" rating to a "buy" rating and upped their price objective for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $119.00 price objective on shares of Okta in a research report on Wednesday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.25.

Insider Buying and Selling

In related 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 sale, the executive directly owned 7,067 shares of the company's stock, valued at $706,700. This represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 132,288 shares of the company's stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 over the last quarter. 5.68% of the stock is owned by company insiders.

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.