IFP Advisors Inc Raises Stake in Okta, Inc. $OKTA

IFP Advisors Inc lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 80.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,562 shares of the company’s stock after buying an additional 697 shares during the quarter. IFP Advisors Inc’s holdings in Okta were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock worth $1,872,167,000 after buying an additional 582,956 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Okta by 76.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after purchasing an additional 1,189,222 shares during the period. Ninety One UK Ltd grew its holdings in Okta by 52.1% in the second quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock valued at $274,370,000 after purchasing an additional 939,589 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Okta by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company’s stock valued at $211,982,000 after purchasing an additional 100,411 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OKTA shares. DA Davidson restated a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Friday, September 26th. Jefferies Financial Group boosted their target price on shares of Okta from $100.00 to $105.00 and gave the company a “hold” rating in a report on Wednesday, August 27th. Arete Research upgraded shares of Okta to a “strong sell” rating and set a $83.00 target price for the company in a report on Monday, July 7th. BTIG Research restated a “buy” rating and issued a $142.00 target price on shares of Okta in a report on Friday, September 26th. Finally, Guggenheim restated a “buy” rating and issued a $138.00 target price on shares of Okta in a report on Wednesday, August 27th. Twenty-two equities 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 company. According to MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus target price of $118.94.

Okta Trading Down 0.3%

NASDAQ OKTA opened at $87.43 on Friday. The company’s fifty day simple moving average is $91.23 and its 200-day simple moving average is $99.13. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The stock has a market cap of $15.31 billion, a P/E ratio of 102.86, a PEG ratio of 4.29 and a beta of 0.84.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS 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 for the quarter, compared to analysts’ expectations of $711.84 million. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. 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 expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 9,000 shares of the business’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 transaction, the executive directly owned 7,067 shares of the company’s stock, valued at approximately $706,700. The trade was a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 104,249 shares of company stock valued at $9,809,471. 5.68% of the stock is owned by company insiders.

Okta Company 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.