Okta, Inc. $OKTA Shares Sold by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC cut its Okta stake by 35.5% in the fourth quarter, selling 41,942 shares and leaving it with 76,054 shares valued at about $6.6 million.
• Despite some mixed analyst moves, Wall Street remains broadly constructive on Okta: the stock carries a Moderate Buy consensus and a consensus price target of $100.89, with several firms recently raising or trimming targets.
• Okta’s latest results beat expectations, with quarterly EPS of $0.90 and revenue of $761 million, while the company and recent media coverage continue to emphasize AI security as a key growth theme for the business.

NewEdge Wealth LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 35.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,054 shares of the company's stock after selling 41,942 shares during the period. NewEdge Wealth LLC's holdings in Okta were worth $6,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spire Wealth Management lifted its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after buying an additional 119 shares in the last quarter. Allworth Financial LP raised its stake in shares of Okta by 6.4% during the third quarter. Allworth Financial LP now owns 2,251 shares of the company's stock valued at $206,000 after purchasing an additional 135 shares during the period. Choreo LLC raised its stake in shares of Okta by 2.0% during the third quarter. Choreo LLC now owns 7,239 shares of the company's stock valued at $664,000 after purchasing an additional 140 shares during the period. Raiffeisen Bank International AG raised its stake in shares of Okta by 3.9% during the third quarter. Raiffeisen Bank International AG now owns 4,369 shares of the company's stock valued at $410,000 after purchasing an additional 166 shares during the period. Finally, Westpac Banking Corp raised its stake in shares of Okta by 10.6% during the third quarter. Westpac Banking Corp now owns 1,851 shares of the company's stock valued at $170,000 after purchasing an additional 177 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OKTA. Barclays upgraded shares of Okta from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $85.00 to $90.00 in a research note on Monday, April 20th. KeyCorp dropped their price objective on shares of Okta from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 15th. Seaport Research Partners lowered shares of Okta to a "neutral" rating in a research note on Thursday, April 16th. Sanford C. Bernstein reiterated an "outperform" rating and set a $134.00 price objective on shares of Okta in a research note on Friday, March 6th. Finally, Morgan Stanley dropped their price objective on shares of Okta from $110.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and a consensus target price of $100.89.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Recent coverage says Okta’s AI security initiatives, including securing AI agents and non-human identities, are drawing fresh investor interest and could strengthen its competitive position. Okta (OKTA) Valuation Check As AI Agent Security Push Draws Fresh Investor Attention
• Positive Sentiment: Another article highlighted Okta’s effort to make its identity platform a key layer for enterprise AI-agent security, reinforcing the bullish AI narrative. Is Okta (OKTA) Quietly Turning AI Agent Security Into Its Core Competitive Edge?
• Positive Sentiment: Media coverage noted Okta is targeting roughly 9% FY2027 growth as AI security gains traction, which may reassure investors about the company’s longer-term revenue path. Okta targets 9% FY 2027 growth as AI security gains traction
• Neutral Sentiment: Insider Larissa Schwartz sold shares in two pre-arranged Rule 10b5-1 transactions, but the sales were disclosed as part of a planned trading program and do not necessarily signal a change in fundamentals.
• Neutral Sentiment: One article discussed Okta’s Salesforce integration and broader enterprise identity strategy, which may be viewed as strategic but does not appear to be a major near-term catalyst. Okta-Salesforce integration highlights shift in enterprise identity strategy
• Negative Sentiment: The insider stock sales may create some overhang for traders, even though they were pre-planned and relatively small compared with the insider’s remaining holdings.

Okta Price Performance

Okta stock opened at $83.90 on Monday. The company has a market cap of $14.84 billion, a PE ratio of 64.05, a P/E/G ratio of 3.27 and a beta of 0.59. The company has a fifty day moving average price of $76.07 and a two-hundred day moving average price of $82.86. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities research analysts anticipate that Okta, Inc. will post 1.61 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 6,377 shares of Okta stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the transaction, the insider owned 54,825 shares of the company's stock, valued at $4,372,293.75. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 11,263 shares of Okta stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the completion of the transaction, the chief executive officer directly owned 97,083 shares of the company's stock, valued at approximately $7,864,693.83. This represents a 10.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 68,384 shares of company stock valued at $5,413,148 over the last quarter. Insiders own 4.61% of the company's stock.

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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