Okta, Inc. $OKTA Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Okta, Inc. by 15.7%, now holding 52,951 shares valued at approximately $5.29 million after selling 9,864 shares in the second quarter.
• Okta's recent quarterly earnings exceeded analysts' estimates with $0.91 earnings per share, surpassing consensus expectations of $0.84, and the company reported a 12.7% year-over-year increase in revenue.
• Institutional investors now own over 86.64% of Okta's stock, indicating strong backing from major financial entities, while analysts maintain a consensus rating of "Hold" with an average price target of $118.94.

Blair William & Co. IL cut its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,951 shares of the company's stock after selling 9,864 shares during the quarter. Blair William & Co. IL's holdings in Okta were worth $5,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. GFG Capital LLC acquired a new stake in shares of Okta in the second quarter valued at $1,890,000. US Bancorp DE grew its stake in shares of Okta by 478.0% in the second quarter. US Bancorp DE now owns 408,888 shares of the company's stock valued at $40,877,000 after buying an additional 338,143 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Okta by 5.8% in the second quarter. Maryland State Retirement & Pension System now owns 8,007 shares of the company's stock valued at $800,000 after buying an additional 441 shares in the last quarter. Fluent Financial LLC grew its stake in shares of Okta by 94.9% in the second quarter. Fluent Financial LLC now owns 10,825 shares of the company's stock valued at $1,082,000 after buying an additional 5,272 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Okta in the second quarter valued at $4,699,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

Okta stock opened at $89.35 on Monday. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57. The stock has a market cap of $15.64 billion, a PE ratio of 105.12, a P/E/G ratio of 4.39 and a beta of 0.84. The stock's fifty day moving average is $91.91 and its two-hundred day moving average is $99.69.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share 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 company had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. During the same period last year, the firm earned $0.72 earnings per share. Okta's quarterly revenue 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. On average, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the sale, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction dated 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. In the last three months, insiders have sold 136,267 shares of company stock valued at $12,780,944. 5.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research reports. Bank of America reaffirmed an "underperform" rating and issued a $75.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Robert W. Baird decreased their target price on Okta from $142.00 to $135.00 and set an "outperform" rating for the company in a report on Monday, September 29th. Jefferies Financial Group lifted their target price on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a report on Wednesday, August 27th. JMP Securities reiterated a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Finally, Westpark Capital reiterated a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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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