Lbp Am Sa Lowers Position in Okta, Inc. $OKTA

Key Points

• Lbp Am Sa reduced its stake in Okta, Inc. by 48.9% in the second quarter, now holding 12,496 shares valued at $1.25 million.
• Analyst ratings for Okta are mixed, with Barclays raising the price target to $115, while others like Zacks downgraded their rating to "hold."
• Recent insider trading included significant stock sales by CEO Todd Mckinnon and CRO Jonathan James Addison, with Mckinnon selling 31,968 shares for nearly $2.95 million.

Lbp Am Sa cut its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 48.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,496 shares of the company's stock after selling 11,947 shares during the quarter. Lbp Am Sa's holdings in Okta were worth $1,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Wolff Wiese Magana LLC raised its stake in shares of 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 during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta during the second quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new stake in shares of Okta during the first quarter valued at approximately $27,000. Harbour Investments Inc. increased its position in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after acquiring an additional 157 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Okta during the first quarter valued at approximately $31,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKTA. Barclays increased their price target on Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Zacks Research downgraded Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and set a $138.00 price target on shares of Okta in a research report on Wednesday, August 27th. BMO Capital Markets decreased their target price 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. Finally, BTIG Research reissued a "buy" rating and issued a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Okta currently has an average rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was 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 trade 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 at the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,593 shares of company stock valued at $12,598,168. 5.68% of the stock is currently owned by company insiders.

Okta Price Performance

Okta stock opened at $94.92 on Friday. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The business has a fifty day moving average price of $92.65 and a 200-day moving average price of $100.79. The firm has a market capitalization of $16.62 billion, a P/E ratio of 111.67, a PEG ratio of 4.50 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the company earned $0.72 earnings per share. The business's revenue for the quarter was up 12.7% on a year-over-year basis. 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 expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta 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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