SWS Partners Sells 15,603 Shares of Okta, Inc. $OKTA

Key Points

• SWS Partners has reduced its holdings in Okta, Inc. by 34.7%, selling 15,603 shares during the first quarter, leaving them with 29,313 shares valued at approximately $3,084,000.
• Several institutional investors, including Vanguard Group Inc. and Stephens Investment Management Group, modified their positions in Okta during the first quarter, indicating a high level of institutional interest with 86.64% of the company's stock owned by such investors.
• Okta's stock has seen analysts set varying price targets, with an average target price of $118.25 and a consensus rating of "Moderate Buy", reflecting a mix of bullish and cautious sentiments among analysts.

SWS Partners lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 34.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,313 shares of the company's stock after selling 15,603 shares during the quarter. SWS Partners' holdings in Okta were worth $3,084,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Okta by 3.4% in the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after purchasing an additional 4,171 shares in the last quarter. Trek Financial LLC acquired a new stake in shares of Okta in the 1st quarter valued at $426,000. Merit Financial Group LLC acquired a new stake in shares of Okta in the 1st quarter valued at $823,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Okta by 10.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock valued at $52,518,000 after purchasing an additional 46,818 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Analysts Set New Price Targets

OKTA has been the topic of a number of research analyst reports. Citigroup reaffirmed a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, August 27th. Westpark Capital reissued a "buy" rating and set a $140.00 price objective on shares of Okta in a report on Wednesday, August 27th. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price objective on the stock in a report on Monday, July 7th. Finally, Stephens reissued an "equal weight" rating and set a $127.00 price objective on shares of Okta in a report on Tuesday, May 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $118.25.

Insider Activity

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares of the company's stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.30, for a total value of $3,010,717.60. Following the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by corporate insiders.

Okta Trading Down 3.9%

Shares of OKTA opened at $90.21 on Thursday. The company has a market capitalization of $15.79 billion, a PE ratio of 106.13, a PEG ratio of 4.57 and a beta of 0.83. Okta, Inc. has a 12 month low of $70.81 and a 12 month high of $127.57. The stock's 50-day moving average price is $93.77 and its two-hundred day moving average price is $101.97.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping 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 business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period 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. Equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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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