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

Key Points

• Thematics Asset Management has reduced its stake in Okta, Inc. by 2.4%, now owning approximately $13.5 million worth of shares in the company.
• Significant increases in shares held have been reported by other hedge funds, including Vanguard Group Inc. and Massachusetts Financial Services Co., indicating strong institutional interest in Okta.
• CEO Todd Mckinnon and CRO Jonathan James Addison recently sold large portions of their stock, decreasing their ownership by over 60%, which suggests notable insider activity.

Thematics Asset Management lowered its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,877 shares of the company's stock after selling 3,123 shares during the period. Thematics Asset Management owned approximately 0.07% of Okta worth $13,455,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after purchasing an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Okta by 325.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Okta by 5.2% during the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after purchasing an additional 100,411 shares during the period. Finally, Ninety One UK Ltd purchased a new stake in shares of Okta during the first quarter valued at approximately $189,915,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 31,592 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the sale, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan James Addison sold 9,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock valued at $8,382,790 over the last quarter. 5.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Guggenheim reiterated a "buy" rating and set a $138.00 price objective on shares of Okta in a research note on Monday, August 18th. Roth Capital restated a "buy" rating and issued a $119.00 price target on shares of Okta in a research note on Wednesday, May 28th. Royal Bank Of Canada dropped their price target on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Evercore ISI lifted their price target on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Twenty analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $117.92.

Okta Stock Up 2.5%

OKTA stock opened at $92.05 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The firm has a fifty day moving average price of $95.62 and a two-hundred day moving average price of $102.47. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 146.11, a PEG ratio of 4.45 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.