Okta, Inc. $OKTA Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group increased its Q3 stake in Okta by 5.7% to 19,803,227 shares, representing about 11.31% of the company and valued at roughly $1.816 billion.
• Okta topped Q3 expectations with $0.82 EPS versus a $0.76 consensus and $742 million in revenue (up 11.6% year-over-year), and set FY2026 guidance of $3.430–$3.440 EPS and Q4 guidance of $0.840–$0.850.
• The Board authorized a $1.00 billion repurchase plan to buy up to ~6.8% of shares, while company insiders sold 37,245 shares (about $3.39 million) over the last quarter.

Vanguard Group Inc. raised its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,803,227 shares of the company's stock after buying an additional 1,074,977 shares during the period. Vanguard Group Inc. owned about 11.31% of Okta worth $1,815,956,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp increased its position in shares of Okta by 50.7% in the third quarter. Fifth Third Bancorp now owns 2,538 shares of the company's stock valued at $233,000 after buying an additional 854 shares in the last quarter. Amica Mutual Insurance Co. purchased a new stake in Okta in the 3rd quarter worth $239,000. State of New Jersey Common Pension Fund D lifted its holdings in Okta by 3.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,457 shares of the company's stock valued at $5,361,000 after purchasing an additional 1,806 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Okta by 15.8% in the third quarter. PNC Financial Services Group Inc. now owns 10,258 shares of the company's stock valued at $941,000 after purchasing an additional 1,396 shares during the period. Finally, Aberdeen Group plc increased its stake in shares of Okta by 2.3% during the third quarter. Aberdeen Group plc now owns 113,319 shares of the company's stock worth $10,391,000 after purchasing an additional 2,577 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 1,836 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider owned 36,328 shares of the company's stock, valued at $3,032,298.16. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares of the company's stock, valued at $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,245 shares of company stock worth $3,385,624 over the last quarter. Company insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OKTA. Wall Street Zen lowered Okta from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Stephens upgraded Okta from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $97.00 to $120.00 in a report on Wednesday, January 14th. Roth Mkm reaffirmed a "buy" rating on shares of Okta in a research note on Wednesday, December 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $110.00 target price on shares of Okta in a research report on Friday, December 12th. Finally, Jefferies Financial Group raised shares of Okta from a "hold" rating to a "buy" rating and raised their price target for the stock from $90.00 to $125.00 in a research note on Tuesday, December 16th. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.56.

Okta Price Performance

NASDAQ:OKTA opened at $81.47 on Friday. The company's 50-day moving average is $88.44 and its two-hundred day moving average is $88.79. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 74.75, a PEG ratio of 3.30 and a beta of 0.77.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta's offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.

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