Okta, Inc. $OKTA Stock Holdings Cut by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its holdings in Okta, Inc. by 32.2%, owning 11,067 shares valued at approximately $1.16 million following the sale of 5,266 shares in the last quarter.
• Massachusetts Financial Services Co. significantly increased its stake in Okta by 325.6%, now holding nearly 3.7 million shares valued at $389 million.
• Okta's stock received mixed analyst ratings, with a consensus of "Moderate Buy" and a price target set at approximately $118.25, despite one research firm lowering its rating from "strong-buy" to "hold."

Rafferty Asset Management LLC decreased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 32.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,067 shares of the company's stock after selling 5,266 shares during the period. Rafferty Asset Management LLC's holdings in Okta were worth $1,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OKTA. The Manufacturers Life Insurance Company boosted its position in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after buying an additional 136 shares during the period. Northern Trust Corp boosted its position in shares of Okta by 11.8% in the fourth quarter. Northern Trust Corp now owns 1,001,027 shares of the company's stock worth $78,881,000 after buying an additional 105,918 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after purchasing an additional 171 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Finally, Algert Global LLC purchased a new position in Okta in the fourth quarter valued at about $1,518,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Up 1.8%

OKTA traded up $1.66 during trading hours on Friday, hitting $91.40. The company's stock had a trading volume of 2,356,506 shares, compared to its average volume of 3,739,559. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market capitalization of $16.00 billion, a PE ratio of 107.31, a PEG ratio of 4.38 and a beta of 0.83. The company has a 50-day simple moving average of $94.30 and a 200 day simple moving average of $102.06.

Okta (NASDAQ:OKTA - Get Free Report) last posted 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 return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. During the same period last year, the firm earned $0.72 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on OKTA shares. UBS Group reduced their price target on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price target for the company in a report on Monday, July 7th. Mizuho cut their price objective on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. BTIG Research restated a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Finally, Robert W. Baird cut their price objective on Okta from $148.00 to $142.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.25.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director directly owned 2,832 shares of the company's stock, valued at approximately $284,021.28. This trade represents a 17.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. The trade was a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 over the last quarter. Insiders own 5.68% of the company's stock.

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.