Farther Finance Advisors LLC Buys 1,234 Shares of Okta, Inc. $OKTA

Farther Finance Advisors LLC raised its stake in Okta, Inc. (NASDAQ:OKTA) by 55.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,462 shares of the company’s stock after buying an additional 1,234 shares during the period. Farther Finance Advisors LLC’s holdings in Okta were worth $346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKTA. Two Sigma Advisers LP purchased a new stake in shares of Okta in the 4th quarter worth about $985,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after purchasing an additional 4,171 shares during the period. Wellington Management Group LLP lifted its position in shares of Okta by 68.8% in the 4th quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock worth $2,683,000 after purchasing an additional 13,869 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Okta in the 1st quarter worth about $98,000. Finally, GAMMA Investing LLC lifted its position in shares of Okta by 37,287.3% in the 1st quarter. GAMMA Investing LLC now owns 126,369 shares of the company’s stock worth $13,297,000 after purchasing an additional 126,031 shares during the period. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OKTA shares. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, August 27th. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and raised their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $125.00 in a research note on Monday, August 25th. DA Davidson restated a “buy” rating and set a $140.00 price objective on shares of Okta in a research note on Friday. Finally, Arete assumed coverage on shares of Okta in a research note on Monday, July 7th. They set a “sell” rating and a $83.00 price objective for the company. Twenty-two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

Okta Price Performance

OKTA opened at $93.86 on Tuesday. The firm has a market cap of $16.43 billion, a P/E ratio of 110.42, a PEG ratio of 4.47 and a beta of 0.83. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57. The company has a 50 day simple moving average of $92.87 and a two-hundred day simple moving average of $101.06.

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 analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In related news, insider Eric Robert Kelleher sold 16,018 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at approximately $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,593 shares of company stock valued at $12,598,168 in the last quarter. Company insiders own 5.68% of the company’s stock.

Okta Profile

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.