Okta, Inc. $OKTA Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management cut its position in Okta by 69.5% in Q3, selling 69,072 shares and leaving it with 30,343 shares worth about $2.78 million.
• Okta beat Q4 estimates (EPS $0.90, revenue $761M) and launched a $1.0 billion share repurchase while pushing an AI-agents growth narrative, but its Q1 guidance came in below Street expectations and the company warned of its slowest revenue growth since the IPO, which pressured the stock.
• Corporate insiders have been selling recently—CEO Todd McKinnon and CFO Brett Tighe sold shares (totaling over 21,000 in disclosed trades) and insiders sold 37,245 shares (~$3.39M) over the past three months, with insiders owning 5.68% of the company.

TD Asset Management Inc reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 69.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,343 shares of the company's stock after selling 69,072 shares during the quarter. TD Asset Management Inc's holdings in Okta were worth $2,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Promus Capital LLC acquired a new position in Okta during the 2nd quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Okta in the third quarter valued at approximately $26,000. Westside Investment Management Inc. increased its stake in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company's stock valued at $38,000 after acquiring an additional 193 shares during the period. Financial Consulate Inc. bought a new stake in Okta during the third quarter worth approximately $40,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Okta in the third quarter worth approximately $46,000. Institutional investors own 86.64% of the company's stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 results topped consensus — EPS of $0.90 and revenue of $761M beat estimates; Okta reported improved profitability and a large total contract value that supports durable enterprise demand. Okta Announces Fourth Quarter And Fiscal Year 2026 Financial Results
• Positive Sentiment: Management is pushing an AI-agents growth narrative — Okta says agentic AI is creating new identity/security requirements (and opened visible use cases such as the PGA partnership), which supports upside over the medium term if adoption accelerates. Okta Sees AI Agents Fueling Next Growth Wave
• Neutral Sentiment: Analyst reactions remain mixed-to-positive — several brokers kept Buy/Outperform ratings (Morgan Stanley reiterated a Buy PT $101; Baird stayed constructive), while coverage and price targets vary widely, leaving consensus expectations dispersed. Okta: Attractive AI-Driven Identity Positioning Supports Buy Rating Despite Near-Term Growth Constraints
• Negative Sentiment: Q1 revenue guidance came in below Street expectations ($749M–$753M vs. ~$754.9M consensus), and company forecasts the slowest revenue growth since its IPO — that conservative near-term outlook is the main driver of investor concern. Okta forecasts slowest revenue growth since IPO amid economic uncertainty
• Negative Sentiment: Market reaction: despite the beat, shares dipped on a “muted” outlook and conservative FY27 revenue posture — investors are focused on the near-term revenue cadence rather than longer-term AI opportunities. Okta beats Q4 estimates but shares dip on muted outlook

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKTA. Deutsche Bank Aktiengesellschaft lowered their price target on Okta from $110.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, December 3rd. Barclays decreased their target price on Okta from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 24th. Wells Fargo & Company started coverage on shares of Okta in a research report on Tuesday. They issued an "equal weight" rating and a $76.00 price target on the stock. Mizuho cut their price target on shares of Okta from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Finally, UBS Group reaffirmed a "buy" rating on shares of Okta in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.50.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 11,286 shares of the company's stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by corporate insiders.

Okta Price Performance

OKTA stock opened at $71.74 on Thursday. The firm has a market capitalization of $12.71 billion, a P/E ratio of 65.82, a P/E/G ratio of 2.81 and a beta of 0.79. Okta, Inc. has a 52-week low of $68.77 and a 52-week high of $127.57. The company's 50 day simple moving average is $85.40 and its 200-day simple moving average is $87.51.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm had revenue of $761.00 million for the quarter, compared to analysts' expectations of $749.87 million. During the same period in the previous year, the company posted $0.78 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Sell-side analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta announced that its board has initiated a share repurchase program 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 programs are often an indication that the company's leadership believes its shares are 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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