Alkeon Capital Management LLC Reduces Stock Position in Okta, Inc. $OKTA

Alkeon Capital Management LLC trimmed its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 80.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,000 shares of the company’s stock after selling 1,520,000 shares during the period. Alkeon Capital Management LLC owned approximately 0.22% of Okta worth $37,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Norges Bank bought a new stake in Okta in the 2nd quarter worth approximately $211,923,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after buying an additional 1,189,222 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Okta by 52.1% in the second quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock worth $274,370,000 after acquiring an additional 939,589 shares during the period. Vanguard Group Inc. increased its position in Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock valued at $1,872,263,000 after acquiring an additional 935,364 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Okta by 20.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock valued at $445,432,000 after acquiring an additional 755,709 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKTA. Citigroup cut their price target on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Stifel Nicolaus cut their target price on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Roth Capital reaffirmed a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Okta in a research report on Friday. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.91.

Insider Activity

In related news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 133,336 shares in the company, valued at approximately $12,666,920. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 66,293 shares of company stock valued at $6,124,092 in the last three months. 5.68% of the stock is currently owned by insiders.

Okta Price Performance

Shares of NASDAQ OKTA opened at $90.18 on Friday. The stock has a market cap of $15.79 billion, a PE ratio of 82.73, a price-to-earnings-growth ratio of 4.27 and a beta of 0.77. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The firm has a fifty day moving average price of $86.38 and a 200-day moving average price of $92.48.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the prior year, the firm posted $0.67 EPS. Okta’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.