Hennion & Walsh Asset Management Inc. Buys New Shares in Okta, Inc. $OKTA

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,986 shares of the company’s stock, valued at approximately $549,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Okta by 5.3% in the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after buying an additional 935,364 shares in the last quarter. First Trust Advisors LP lifted its holdings 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 worth $489,966,000 after acquiring an additional 407,087 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Okta by 20.4% in 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after purchasing an additional 314,525 shares during the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Okta by 52.1% during the 2nd 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 last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the transaction, the insider directly owned 38,164 shares in the company, valued at approximately $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at approximately $950,850.40. The trade was a 17.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,727 shares of company stock valued at $2,394,046 in the last quarter. 5.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Roth Capital reissued a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Susquehanna decreased their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. BMO Capital Markets dropped their target price on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a report on Wednesday, December 3rd. Robert W. Baird reduced their price target 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, Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a research report on Monday, December 1st. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.09.

Okta Price Performance

Shares of Okta stock opened at $92.23 on Monday. 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 $90.47. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 84.61, a PEG ratio of 4.31 and a beta of 0.76.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same period last year, the business posted $0.67 EPS. The company’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. On average, equities analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta declared that its board has approved a stock repurchase plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign 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.