Lbp Am Sa Sells 11,947 Shares of Okta, Inc. $OKTA

Lbp Am Sa decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 48.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,496 shares of the company’s stock after selling 11,947 shares during the period. Lbp Am Sa’s holdings in Okta were worth $1,249,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Okta by 3.4% during the first 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 period. Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after buying an additional 4,171 shares during the period. Trek Financial LLC bought a new stake in Okta during the first quarter worth about $426,000. Focus Partners Advisor Solutions LLC bought a new stake in Okta during the first quarter worth about $515,000. Finally, Merit Financial Group LLC bought a new stake in Okta during the first quarter worth about $823,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 31,968 shares of the business’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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,593 shares of company stock worth $12,598,168 over the last 90 days. 5.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research analyst reports. Canaccord Genuity Group raised Okta from a “hold” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $120.00 in a research note on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Okta in a research note on Friday, September 26th. Bank of America reaffirmed an “underperform” rating and set a $75.00 price target on shares of Okta in a research note on Wednesday, August 27th. BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a research note on Friday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.94.

Okta Trading Up 3.5%

OKTA opened at $94.92 on Friday. The company has a market cap of $16.62 billion, a P/E ratio of 111.67, a P/E/G ratio of 4.50 and a beta of 0.84. The business’s 50-day moving average price is $92.65 and its 200-day moving average price is $100.79. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data 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 company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. 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 forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.