Okta, Inc. $OKTA Stock Position Raised by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management LLC raised its holdings in Okta, Inc. by 2.0%, owning 242,793 shares valued at approximately $24.27 million at the end of the second quarter.
• Institutional investors control 86.64% of Okta's stock, with notable increases from Vanguard Group and Massachusetts Financial Services in recent quarters.
• Okta reported an earnings per share (EPS) of $0.91 for the last quarter, exceeding estimates, and set guidance for FY 2026 at 3.330-3.380 EPS.

Smith Group Asset Management LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 242,793 shares of the company's stock after buying an additional 4,798 shares during the period. Smith Group Asset Management LLC owned 0.14% of Okta worth $24,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after buying an additional 2,830,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Okta by 76.3% during 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 valued at $289,234,000 after buying an additional 1,189,222 shares during the last quarter. Ninety One UK Ltd grew its position in shares of Okta by 52.1% during the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company's stock valued at $274,370,000 after buying an additional 939,589 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Okta by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after buying an additional 100,411 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total transaction of $120,794.70. Following the completion of the sale, the insider directly owned 37,837 shares of the company's stock, valued at $3,467,761.05. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 6,091 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the sale, the executive directly owned 7,067 shares of the company's stock, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,657 shares of company stock valued at $5,898,754. Corporate insiders own 5.68% of the company's stock.

Okta Price Performance

OKTA stock opened at $88.55 on Friday. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a market cap of $15.50 billion, a PE ratio of 104.18, a P/E/G ratio of 4.27 and a beta of 0.84. The firm has a 50 day simple moving average of $91.15 and a 200 day simple moving average of $98.93.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period in the prior year, the business earned $0.72 earnings per share. The business'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. As a group, sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. Citigroup restated a "market perform" rating on shares of Okta in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Guggenheim restated a "buy" rating and issued a $138.00 target price on shares of Okta in a research report on Wednesday, August 27th. Weiss Ratings restated a "hold (c-)" rating on shares of Okta in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on shares of Okta from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of "Hold" and an average price target of $118.94.

Okta Company 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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