Penserra Capital Management LLC Sells 21,352 Shares of Okta, Inc. $OKTA

Penserra Capital Management LLC lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 881,233 shares of the company’s stock after selling 21,352 shares during the period. Okta comprises approximately 1.2% of Penserra Capital Management LLC’s holdings, making the stock its 14th largest holding. Penserra Capital Management LLC owned about 0.50% of Okta worth $88,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Savant Capital LLC grew its position in shares of Okta by 32.2% in the 2nd quarter. Savant Capital LLC now owns 33,756 shares of the company’s stock worth $3,375,000 after buying an additional 8,228 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Okta by 165.6% in the second quarter. Golden State Wealth Management LLC now owns 858 shares of the company’s stock worth $86,000 after acquiring an additional 535 shares during the period. Andra AP fonden bought a new stake in Okta in the second quarter valued at $1,035,000. Resona Asset Management Co. Ltd. boosted its holdings in Okta by 5.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 51,554 shares of the company’s stock valued at $5,144,000 after acquiring an additional 2,618 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its position in Okta by 1.6% during the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 76,988 shares of the company’s stock valued at $7,696,000 after purchasing an additional 1,216 shares during the period. Hedge funds and other 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 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 transaction of $2,951,605.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 6,091 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares in the company, valued at $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 63,657 shares of company stock valued at $5,898,754 over the last ninety days. Corporate insiders own 5.68% of the company’s stock.

Okta Price Performance

OKTA opened at $85.21 on Friday. The firm has a market cap of $14.92 billion, a PE ratio of 100.25, a P/E/G ratio of 4.21 and a beta of 0.84. The stock has a 50-day moving average price of $90.41 and a 200-day moving average price of $98.18. Okta, Inc. has a 1 year low of $71.84 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $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. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on OKTA shares. Robert W. Baird dropped their target price on shares of Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Barclays raised their price objective on shares of Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. BTIG Research reiterated a “buy” rating and set a $142.00 target price on shares of Okta in a report on Friday, September 26th. Finally, Canaccord Genuity Group raised Okta from a “hold” rating to a “buy” rating and increased their target price for the stock from $115.00 to $120.00 in a research report on Tuesday, August 26th. Twenty-two 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 MarketBeat.com, Okta has an average rating of “Hold” and an average target price 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.