Okta, Inc. $OKTA Holdings Cut by Stephens Investment Management Group LLC

Key Points

• Stephens Investment Management Group LLC has reduced its stake in Okta, Inc. by 7.4%, now holding approximately 0.26% of the company, valued at about $46 million.
• Despite the reduction in some stakes, other institutional investors like FNY Investment Advisers LLC and Cullen Frost Bankers Inc. have increased their holdings significantly, indicating a mixed sentiment among investors.
• Okta reported earnings of $0.91 per share, exceeding analysts' expectations, with revenue growing 12.7% year-over-year, showcasing strong performance in its latest quarterly results.

Stephens Investment Management Group LLC decreased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 461,981 shares of the company's stock after selling 37,144 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.26% of Okta worth $46,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its stake in shares of Okta by 16.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,676 shares of the company's stock worth $467,000 after purchasing an additional 676 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company's stock valued at $34,000 after purchasing an additional 159 shares in the last quarter. IMG Wealth Management Inc. bought a new position in shares of Okta during the 2nd quarter valued at $92,000. Securian Asset Management Inc. bought a new position in shares of Okta during the 2nd quarter valued at $1,273,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Okta by 0.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,155 shares of the company's stock valued at $2,564,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Price Performance

Shares of OKTA opened at $89.45 on Wednesday. The company has a market capitalization of $15.66 billion, a PE ratio of 105.24, a price-to-earnings-growth ratio of 4.34 and a beta of 0.84. The company's fifty day moving average price is $91.23 and its 200 day moving average price is $99.03. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $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. Analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 6,091 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the sale, the executive directly owned 7,067 shares in the company, valued at $654,474.87. This trade represents a 46.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,657 shares of company stock worth $6,798,754. 5.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Arete Research upgraded shares of Okta to a "strong sell" rating and set a $83.00 price target on the stock in a report on Monday, July 7th. DA Davidson restated a "buy" rating and set a $140.00 price target on shares of Okta in a report on Friday, September 26th. Royal Bank Of Canada restated an "outperform" rating and set a $115.00 price target on shares of Okta in a report on Friday, September 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Okta in a report on Wednesday, October 8th. Finally, Scotiabank cut their price target on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $118.94.

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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