DAVENPORT & Co LLC Raises Stock Position in Okta, Inc. $OKTA

DAVENPORT & Co LLC lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 42.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841,676 shares of the company’s stock after buying an additional 252,444 shares during the period. DAVENPORT & Co LLC owned approximately 0.48% of Okta worth $77,946,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after purchasing an additional 935,364 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Okta by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock valued at $489,966,000 after purchasing an additional 407,087 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Okta by 20.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock worth $445,432,000 after buying an additional 755,709 shares during the last quarter. Geode Capital Management LLC grew its stake in Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock worth $314,488,000 after buying an additional 314,525 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Okta by 76.3% during 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 worth $289,234,000 after buying an additional 1,189,222 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Down 2.1%

Shares of Okta stock opened at $89.06 on Wednesday. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 81.71, a price-to-earnings-growth ratio of 4.29 and a beta of 0.77. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57. The company’s 50-day simple moving average is $86.14 and its 200-day simple moving average is $91.42.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s 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. Equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Board and strategy: Okta added SaaS/cybersecurity expertise to its board, a move analysts and commentators say could strengthen Okta’s AI security narrative and product positioning. This supports the company’s longer-term growth story in identity + AI. Does New SaaS and Cybersecurity Expertise on Okta’s Board
• Positive Sentiment: Analyst support: Several firms (Jefferies, Truist, Needham) have moved OKTA toward buy/upgraded views and raised price targets this season, keeping a constructive broker narrative that can support upside if execution on AI/security continues. MarketBeat OKTA coverage
• Neutral Sentiment: Investor interest: Okta has been among heavily searched names on Zacks, signaling elevated attention and volatility potential but not new fundamental news. Investors Heavily Search Okta
• Neutral Sentiment: Thought leadership: Interviews and commentary on identity and AI governance (DQ India) and CEO remarks cautioning against rash moves to AI startups are visibility-positive but not material catalysts. Navigating the new era of identity and AI governance
• Negative Sentiment: Insider selling — CEO: CEO Todd McKinnon sold 11,286 shares at an average ~$90.96 (~$1.03M). Insider sales by founders/executives often spook investors even if for diversification or taxes. SEC filing – McKinnon sale
• Negative Sentiment: Insider selling — other insiders: Eric Robert Kelleher disclosed recent sales (127 shares at $91.40 plus a prior sale of 8,370 shares on Dec 18 that cut his stake by ~42.6%). Multiple insider sales in close succession amplify concern about insider conviction. SEC filing – Kelleher sales

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 8,370 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the transaction, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This represents a 42.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction 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 owned 133,336 shares of the company’s stock, valued at $12,666,920. The trade was a 6.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 36,147 shares of company stock valued at $3,310,275 in the last three months. 5.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKTA shares. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. BTIG Research decreased their price target on shares of Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Bank of America reaffirmed an “underperform” rating and issued a $75.00 target price on shares of Okta in a report on Wednesday, August 27th. Finally, Piper Sandler decreased their target price on shares of Okta from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Twenty-four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Okta Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.