Global Retirement Partners LLC Lowers Holdings in Okta, Inc. $OKTA

Global Retirement Partners LLC lowered its position in Okta, Inc. (NASDAQ:OKTA) by 70.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the company’s stock after selling 9,082 shares during the quarter. Global Retirement Partners LLC’s holdings in Okta were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Okta during the 2nd quarter worth $211,923,000. Ninety One UK Ltd grew its holdings in Okta by 52.1% during the 2nd 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 in the last quarter. Vanguard Group Inc. increased its position in Okta by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock valued at $1,872,263,000 after purchasing an additional 935,364 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 valued at $445,432,000 after purchasing an additional 755,709 shares during the period. Finally, Bain Capital Public Equity Management II LLC bought a new stake in shares of Okta in the 2nd quarter valued at about $73,866,000. 86.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Okta in a report on Friday, December 12th. Royal Bank Of Canada increased their target price on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. The Goldman Sachs Group reduced their price target on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Morgan Stanley dropped their price objective on Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Finally, Scotiabank reduced their target price on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a report on Wednesday, December 3rd. Twenty-four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.09.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the completion of the sale, the insider owned 11,266 shares in the company, valued at approximately $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares in the company, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,727 shares of company stock valued at $2,394,046 over the last three months. Company insiders own 5.68% of the company’s stock.

Okta Trading Down 1.8%

Shares of NASDAQ OKTA opened at $92.23 on Friday. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The firm’s 50-day moving average is $86.21 and its 200-day moving average is $90.52. The firm has a market capitalization of $16.35 billion, a PE ratio of 84.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period in the prior year, the business posted $0.67 earnings per share. Okta’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. As a group, equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its board has approved a share buyback plan on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.