Okta, Inc. $OKTA Stake Decreased by Smith Group Asset Management LLC

Smith Group Asset Management LLC reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 37.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 255,728 shares of the company’s stock after selling 150,642 shares during the period. Okta makes up 3.5% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Smith Group Asset Management LLC owned about 0.15% of Okta worth $53,475,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Okta by 11.9% in the third quarter. Versant Capital Management Inc now owns 563 shares of the company’s stock valued at $118,000 after acquiring an additional 60 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Okta by 1.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,817 shares of the company’s stock worth $1,007,000 after purchasing an additional 78 shares during the last quarter. Novem Group lifted its stake in Okta by 5.5% during the third quarter. Novem Group now owns 1,795 shares of the company’s stock worth $375,000 after purchasing an additional 93 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new position in shares of Okta in the 3rd quarter worth about $26,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Down 1.5%

NASDAQ OKTA opened at $222.66 on Thursday. The company has a 50-day simple moving average of $189.69 and a two-hundred day simple moving average of $123.45. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00. The firm has a market cap of $38.93 billion, a price-to-earnings ratio of 134.13, a PEG ratio of 6.63 and a beta of 0.73.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities analysts expect that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. This trade represents a 25.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer directly owned 7,693 shares in the company, valued at $1,249,650.92. This trade represents a 84.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,766 shares of company stock worth $23,927,112 in the last ninety days. 4.61% of the stock is owned by insiders.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst upgrade supports sentiment. Zacks Research upgraded Okta from “hold” to “strong buy,” potentially encouraging additional investor interest. Zacks Research analyst rating
• Positive Sentiment: Strong cash generation differentiates Okta. A comparison with monday.com highlighted Okta’s fiscal 2026 revenue growth of 12%, $863 million in free cash flow, and a 28% free-cash-flow margin in its latest quarter. Those figures reinforce the company’s financial flexibility and recurring-revenue profile. Monday.com versus Okta comparison
• Positive Sentiment: AI-agent security is creating a potential growth opportunity. Okta executives said risk leaders increasingly want assurance that companies can control AI agents and distinguish legitimate agents from malicious bots. The trend could increase demand for identity, authentication, and access-management solutions. Okta AI-agent security article
• Neutral Sentiment: Cybersecurity remains a powerful but volatile theme. A surge in AI-discovered vulnerabilities is increasing attention on cybersecurity providers, which may benefit Okta’s category, but the broader group has already experienced substantial gains and sharp trading swings. Cybersecurity stock market article
• Negative Sentiment: Valuation leaves limited room for disappointment. Okta is trading above the reported analyst consensus price target of $202.38, while its elevated valuation makes investors more sensitive to any slowdown in growth or weaker guidance. Okta consensus price target

Analyst Ratings Changes

Several equities analysts have recently commented on OKTA shares. Guggenheim increased their price objective on Okta from $188.00 to $227.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Wells Fargo & Company raised their price objective on Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. Robert W. Baird boosted their target price on Okta from $200.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. KeyCorp set a $240.00 target price on Okta and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Finally, BTIG Research reiterated a “buy” rating and set a $219.00 price target on shares of Okta in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average price target of $202.38.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.