Odyssean LLC Lowers Holdings in Okta, Inc. $OKTA

Odyssean LLC cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,437 shares of the company’s stock after selling 3,218 shares during the period. Odyssean LLC’s holdings in Okta were worth $1,833,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Okta during the 4th quarter valued at approximately $175,193,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares during the period. First Trust Advisors LP boosted its position in shares of Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Okta by 276.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after acquiring an additional 1,031,083 shares during the period. Finally, Swedbank AB boosted its holdings in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after acquiring an additional 1,007,915 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.1%

Shares of NASDAQ:OKTA opened at $170.60 on Friday. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 102.77, a PEG ratio of 5.36 and a beta of 0.79. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $174.85. The business has a 50-day moving average price of $146.29 and a 200 day moving average price of $108.37.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter last year, the business posted $0.91 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts predict that Okta, Inc. will post 1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Arete Research set a $127.00 target price on shares of Okta and gave the company a “buy” rating in a research note on Tuesday, May 26th. Roth Capital reissued a “buy” rating on shares of Okta in a report on Thursday, August 27th. Needham & Company LLC boosted their target price on shares of Okta from $140.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. DA Davidson upped their price target on Okta from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, BTIG Research lifted their price objective on shares of Okta from $167.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $172.92.

Insider Buying and Selling at Okta

In related news, insider Eric Kelleher sold 3,977 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the transaction, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares in the company, valued at $3,028,920. This trade represents a 8.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 220,376 shares of company stock valued at $31,355,385 over the last ninety days. 4.61% of the stock is currently owned by corporate insiders.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst estimates increased: Scotiabank reportedly raised its earnings estimates for Okta, adding support to the bullish outlook following the company’s better-than-expected quarterly results. Scotiabank Brokers Increase Earnings Estimates for Okta
• Positive Sentiment: Momentum remains favorable: Zacks highlighted Okta as a strong long-term momentum stock, reflecting its improving earnings performance, revenue growth and favorable price trends. The company recently reported revenue of $805 million, up 10.6% year over year, and adjusted EPS of $1.05 versus the $0.96 consensus estimate. Why Okta Is a Top Momentum Stock for the Long-Term
• Positive Sentiment: AI-agent opportunity strengthens the investment case: Commentary suggests Okta could benefit as businesses require identity, access and security controls for AI agents and other automated systems. This supports the company’s longer-term growth narrative. Okta AI Agents Strengthen My Thesis, But Valuation Is Catching Up
• Neutral Sentiment: Identity-security industry discussion: A comparison of Okta’s and Microsoft’s approaches underscores the growing importance of identity security, but does not identify a specific new contract or near-term financial catalyst for OKTA. What Okta and Microsoft’s Approaches Tell Us About the Future of Identity Security
• Negative Sentiment: Valuation is becoming a concern: With shares trading near their 52-week high and at roughly 103 times earnings, bullish coverage cautions that expectations may already reflect much of Okta’s growth potential. Why Okta Is a Top Momentum Stock for the Long Term
• Negative Sentiment: CFO insider selling: CFO Brett Tighe sold a combined 80,000 Okta shares for approximately $12.9 million. Both transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but the scale of the sales could weigh on sentiment. Okta CFO SEC Form 4 Filing

Okta Company Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.