Greenwood Capital Associates LLC Boosts Stock Position in Okta, Inc. $OKTA

Greenwood Capital Associates LLC lifted its position in Okta, Inc. (NASDAQ:OKTA) by 30.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,197 shares of the company’s stock after purchasing an additional 2,149 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Okta were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Massachusetts Financial Services Co. MA boosted its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock worth $389,308,000 after purchasing an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in shares of Okta in the 1st quarter worth about $199,918,000. Ninety One UK Ltd purchased a new position in shares of Okta in the 1st quarter worth about $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Okta by 76.3% in 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 worth $289,234,000 after purchasing an additional 1,189,222 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Okta in the 1st quarter worth about $78,094,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the completion of the transaction, the insider owned 39,155 shares of the company’s stock, valued at $3,530,606.35. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold 137,003 shares of company stock worth $12,819,238 over the last quarter. 5.68% of the stock is currently owned by company insiders.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $93.30 on Friday. Okta, Inc. has a 52-week low of $70.92 and a 52-week high of $127.57. The firm has a market capitalization of $16.33 billion, a P/E ratio of 109.76, a P/E/G ratio of 4.66 and a beta of 0.84. The stock has a 50 day moving average price of $92.49 and a 200-day moving average price of $100.65.

Okta (NASDAQ:OKTA) last announced its earnings results 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 return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the prior year, the company earned $0.72 EPS. The business’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. On average, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKTA. Guggenheim reissued a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, August 27th. Arete Research raised Okta to a “strong sell” rating and set a $83.00 target price for the company in a research note on Monday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, August 27th. Scotiabank lowered their target price on Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 27th. Finally, BTIG Research reissued a “buy” rating and issued a $142.00 target price on shares of Okta in a research note on Friday, September 26th. Twenty-two equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $118.94.

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.