Okta, Inc. $OKTA Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2,927.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,844 shares of the company’s stock after buying an additional 63,669 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Okta were worth $6,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its holdings in Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in Okta in the second quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new position in Okta in the first quarter valued at approximately $27,000. Harbour Investments Inc. boosted its holdings in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Finally, Rossby Financial LCC acquired a new position in Okta in the first quarter valued at approximately $31,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a report on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Friday, September 26th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Barclays upped their price target on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Finally, Arete initiated coverage on Okta in a report on Monday, July 7th. They issued a “sell” rating and a $83.00 price target for the company. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $118.94.

Okta Trading Down 1.2%

OKTA stock opened at $89.08 on Wednesday. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The business has a 50 day simple moving average of $91.62 and a 200-day simple moving average of $99.49. The company has a market capitalization of $15.60 billion, a P/E ratio of 104.80, a PEG ratio of 4.42 and a beta of 0.84.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Research analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 6,091 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares in the company, valued at $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the sale, the insider owned 37,837 shares of the company’s stock, valued at $3,467,761.05. This trade represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,249 shares of company stock valued at $10,759,471. Corporate insiders own 5.68% of the company’s stock.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.