Okta, Inc. $OKTA Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. reduced its stake in Okta, Inc. by 57.1% in the second quarter, leading to a total holding of 84,040 shares.
• Institutional investors collectively own 86.64% of Okta's stock, with notable increases in holdings from Massachusetts Financial Services Co. and others during the first quarter.
• Okta reported $0.91 earnings per share, surpassing estimates, and expects FY 2026 EPS guidance between 3.330-3.380.

Vontobel Holding Ltd. lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 57.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,040 shares of the company's stock after selling 111,831 shares during the quarter. Vontobel Holding Ltd.'s holdings in Okta were worth $8,401,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after acquiring an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in shares of Okta in the 1st quarter worth approximately $199,918,000. Ninety One UK Ltd acquired a new position in shares of Okta in the 1st quarter worth approximately $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock worth $289,234,000 after acquiring an additional 1,189,222 shares in the last quarter. Finally, PointState Capital LP acquired a new position in shares of Okta in the 1st quarter worth approximately $78,094,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Up 1.1%

Shares of NASDAQ OKTA opened at $93.64 on Friday. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 110.16, a price-to-earnings-growth ratio of 4.55 and a beta of 0.84. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57. The stock's 50 day simple moving average is $92.02 and its 200 day simple moving average is $100.06.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. 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 research report on Monday, September 29th. Citigroup reiterated a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, August 27th. BMO Capital Markets decreased their target price on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research report on Wednesday, August 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $125.00 target price on shares of Okta in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Okta currently has a consensus rating of "Hold" and a consensus price target of $118.94.

Insider Activity

In other Okta news, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the sale, the executive owned 7,067 shares of the company's stock, valued at $654,474.87. The trade was a 46.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction on Monday, September 22nd. The shares were 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. Insiders have sold 147,003 shares of company stock worth $13,769,238 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

About Okta

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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