Okta, Inc. $OKTA Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 23.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 98,063 shares of the company’s stock after acquiring an additional 18,325 shares during the period. Congress Asset Management Co. owned approximately 0.06% of Okta worth $8,480,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the last quarter. First Trust Advisors LP grew its position in Okta by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after purchasing an additional 407,087 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after purchasing an additional 179,919 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Okta by 9.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock valued at $204,162,000 after purchasing an additional 189,036 shares in the last quarter. Finally, Norges Bank acquired a new position in Okta during the 2nd quarter valued at approximately $211,923,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $76.76 on Wednesday. The company’s fifty day moving average price is $82.50 and its 200-day moving average price is $86.29. Okta, Inc. has a 1-year low of $68.77 and a 1-year high of $127.57. The firm has a market capitalization of $13.58 billion, a P/E ratio of 58.60, a PEG ratio of 3.17 and a beta of 0.79.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported a quarterly earnings and revenue beat and reaffirmed FY‑2027 and Q1 guidance, which supports the company’s revenue trajectory and profitability outlook. Earnings Beat
• Positive Sentiment: The board authorized a $1.0 billion share repurchase program (up to ~6.8% of shares), a direct capital-return signal that can support the share price and reduce float over time.
• Neutral Sentiment: Multiple short‑interest reports for March show “0” shares and NaN changes — the data appears unreliable or not meaningful, so there’s no clear evidence of a large short bet pressuring the stock. (Market data noise.)
• Neutral Sentiment: Media and research outlets (Zacks and others) are flagging Okta as a trending/momentum name and highlighting product expansion (AI‑driven identity offerings). That can sustain interest but is informational rather than an immediate price catalyst. Zacks Trending Piece
• Negative Sentiment: An Okta insider, Eric Robert Kelleher, sold 16,818 shares (avg. $80) on Mar 19 — a $1.35M transaction that materially reduced his stake; such sales can be interpreted as bearish by some investors. Insider Sale
• Negative Sentiment: Several analysts have trimmed price targets (e.g., Citigroup, Stephens, Morgan Stanley), which increases downward pressure by resetting street expectations and may reduce near‑term demand.
• Negative Sentiment: Okta announced an upcoming board transition after a director resignation (Jeff Epstein), a governance event investors may watch for potential strategic or oversight implications. Board Transition

Insider Activity

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,899 shares of Okta 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 owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,798 shares of company stock valued at $2,971,704 in the last quarter. 5.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OKTA shares. Citigroup lowered their price objective on shares of Okta from $100.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Roth Mkm reissued a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Guggenheim restated a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Oppenheimer lowered their price target on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Scotiabank cut their price objective on Okta from $85.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.25.

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.