Okta, Inc. $OKTA Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 80,238 shares of the company’s stock after selling 527 shares during the period. Congress Asset Management Co.’s holdings in Okta were worth $8,021,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in Okta by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 51,421 shares of the company’s stock worth $5,141,000 after acquiring an additional 1,308 shares during the period. Ballentine Partners LLC raised its position in Okta by 521.6% during the second quarter. Ballentine Partners LLC now owns 16,316 shares of the company’s stock worth $1,631,000 after acquiring an additional 13,691 shares during the period. Norden Group LLC raised its position in Okta by 3.7% during the second quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after acquiring an additional 116 shares during the period. Fifth Third Bancorp raised its position in Okta by 130.7% during the second quarter. Fifth Third Bancorp now owns 1,684 shares of the company’s stock worth $168,000 after acquiring an additional 954 shares during the period. Finally, Bfsg LLC acquired a new position in Okta during the second quarter worth $336,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Eric Robert Kelleher sold 8,522 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.62, for a total transaction of $789,307.64. Following the completion of the sale, the insider directly owned 9,174 shares in the company, valued at approximately $849,695.88. This trade represents a 48.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock valued at $12,598,168 in the last quarter. Insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OKTA shares. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and increased their target price for the company from $115.00 to $120.00 in a research report on Tuesday, August 26th. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Okta in a research report on Friday. Barclays increased their target price on shares of Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 27th. Finally, Jefferies Financial Group increased their target price on shares of Okta from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.14.

Okta Trading Down 0.0%

Okta stock opened at $91.16 on Friday. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57. The stock has a market cap of $15.96 billion, a P/E ratio of 107.25, a PEG ratio of 4.48 and a beta of 0.83. The company has a 50-day moving average price of $92.91 and a 200 day moving average price of $101.28.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same period last year, the business earned $0.72 earnings per share. Okta’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. As a group, analysts forecast that Okta, Inc. will post 0.42 EPS for the current 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.