UMB Bank n.a. Buys 1,393 Shares of Okta, Inc. $OKTA

UMB Bank n.a. boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 46,433.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,396 shares of the company’s stock after purchasing an additional 1,393 shares during the period. UMB Bank n.a.’s holdings in Okta were worth $140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in shares of Okta in the second quarter worth $26,000. IFM Investors Pty Ltd grew its stake in shares of Okta by 0.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 30,766 shares of the company’s stock valued at $3,076,000 after purchasing an additional 168 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of Okta by 7.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 62,000 shares of the company’s stock valued at $6,198,000 after purchasing an additional 4,300 shares during the last quarter. Lake Hills Wealth Management LLC bought a new position in shares of Okta in the 2nd quarter worth approximately $535,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of Okta in the second quarter worth approximately $244,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKTA. Evercore ISI increased their price target on shares of Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. Citigroup reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Arete started coverage on Okta in a report on Monday, July 7th. They set a “sell” rating and a $83.00 price target for the company. DA Davidson reduced their price target on Okta from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Finally, Bank of America reaffirmed an “underperform” rating and set a $75.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $118.25.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 3,348 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the transaction, the insider directly owned 39,155 shares of the company’s stock, valued at approximately $3,530,606.35. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,593 shares of company stock worth $12,598,168 in the last 90 days. 5.68% of the stock is owned by company insiders.

Okta Trading Down 2.5%

NASDAQ:OKTA opened at $89.87 on Thursday. The stock has a 50-day moving average price of $93.01 and a 200 day moving average price of $101.48. The stock has a market capitalization of $15.73 billion, a P/E ratio of 105.73, a P/E/G ratio of 4.51 and a beta of 0.83. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion during 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 firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company 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. On average, research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.