Okta, Inc. $OKTA Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Okta, Inc. (NASDAQ:OKTA) by 35.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,421 shares of the company’s stock after purchasing an additional 903 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Okta were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Okta by 255.3% in the first quarter. GAMMA Investing LLC now owns 1,201 shares of the company’s stock valued at $126,000 after buying an additional 863 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Okta by 220.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,917 shares of the company’s stock valued at $4,095,000 after acquiring an additional 26,791 shares during the period. Janney Montgomery Scott LLC grew its position in Okta by 119.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,021 shares of the company’s stock valued at $1,581,000 after acquiring an additional 8,166 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Okta in the 1st quarter valued at about $212,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Okta during the first quarter worth about $229,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Guggenheim reissued a “buy” rating and issued a $138.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Jefferies Financial Group increased their target price on shares of Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Okta in a research report on Friday, September 26th. Robert W. Baird cut their price objective on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Finally, Bank of America reiterated an “underperform” rating and issued a $75.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Hold” and an average target price of $118.94.

Okta Stock Performance

NASDAQ:OKTA opened at $89.45 on Wednesday. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57. The stock has a market cap of $15.66 billion, a P/E ratio of 105.24, a P/E/G ratio of 4.34 and a beta of 0.84. The stock has a 50-day simple moving average of $91.23 and a 200-day simple moving average of $99.03.

Okta (NASDAQ:OKTA) last posted its 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 firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive directly owned 7,067 shares of the company’s stock, valued at $706,700. This trade represents a 56.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the business’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 90 days, insiders have sold 72,657 shares of company stock worth $6,798,754. 5.68% of the stock is currently owned by company insiders.

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.