Okta, Inc. $OKTA Stake Raised by Forum Financial Management LP

Forum Financial Management LP increased its holdings in Okta, Inc. (NASDAQ:OKTA) by 53.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,780 shares of the company’s stock after acquiring an additional 1,662 shares during the period. Forum Financial Management LP’s holdings in Okta were worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Okta in the 1st quarter worth about $27,000. Harbour Investments Inc. lifted its stake in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta during the 2nd quarter worth about $26,000. Rossby Financial LCC purchased a new stake in shares of Okta during the 1st quarter worth about $31,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Up 0.6%

OKTA opened at $89.07 on Friday. The firm has a market capitalization of $15.59 billion, a P/E ratio of 104.79, a price-to-earnings-growth ratio of 4.35 and a beta of 0.84. The stock’s 50 day moving average price is $91.09 and its two-hundred day moving average price is $98.92. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

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

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 6,091 shares of the firm’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 value of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares in the company, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. This represents a 20.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,657 shares of company stock worth $5,898,754. 5.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Wednesday, August 27th. DA Davidson reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Friday, September 26th. Jefferies Financial Group raised their price target on Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, August 27th. BMO Capital Markets cut their price target on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Okta in a research note on Friday, September 26th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $118.94.

Okta Company 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.