Allianz Asset Management GmbH Sells 122,257 Shares of Okta, Inc. $OKTA

Allianz Asset Management GmbH lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 92.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,964 shares of the company’s stock after selling 122,257 shares during the period. Allianz Asset Management GmbH’s holdings in Okta were worth $914,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Okta in the 2nd quarter valued at $211,923,000. Vanguard Group Inc. lifted its stake 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 valued at $1,872,263,000 after acquiring an additional 935,364 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Okta by 20.4% in 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. Bain Capital Public Equity Management II LLC acquired a new stake in Okta in the second quarter worth about $73,866,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Okta by 122.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 967,166 shares of the company’s stock worth $88,679,000 after purchasing an additional 531,800 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 2.8%

Shares of OKTA stock opened at $87.26 on Friday. Okta, Inc. has a 12-month low of $75.05 and a 12-month high of $127.57. The firm has a fifty day moving average of $88.86 and a 200-day moving average of $89.19. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 80.06, a P/E/G ratio of 3.38 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping 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 analyst estimates of $730.23 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter 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 year.

Okta announced that its board has initiated a stock buyback plan on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 11,286 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,245 shares of company stock valued at $3,385,624 over the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on OKTA shares. Cantor Fitzgerald restated an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. Jefferies Financial Group upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their target price for the company from $90.00 to $125.00 in a research report on Tuesday, December 16th. Roth Mkm reissued a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. BMO Capital Markets decreased their price objective on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, December 3rd. Finally, Piper Sandler upped their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Twenty-five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $113.88.

Okta Company 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.