Cullen Frost Bankers Inc. Has $34,000 Stock Position in Okta, Inc. $OKTA

Cullen Frost Bankers Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA) by 88.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 339 shares of the company’s stock after acquiring an additional 159 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Okta were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OKTA. Massachusetts Financial Services Co. MA increased its position in shares of Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock valued at $389,308,000 after acquiring an additional 2,830,582 shares during the last quarter. Alkeon Capital Management LLC acquired a new stake in shares of Okta in the first quarter valued at about $199,918,000. Ninety One UK Ltd acquired a new stake in shares of Okta in the first quarter valued at about $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Okta by 76.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after acquiring an additional 1,189,222 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in Okta in the first quarter valued at $78,094,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $89.07 on Monday. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 104.79, a PEG ratio of 4.37 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The stock has a fifty day moving average of $91.09 and a 200-day moving average of $98.95.

Okta (NASDAQ:OKTA) last announced its 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 firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same period in the previous year, the business earned $0.72 EPS. The business’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. As a group, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on OKTA shares. Jefferies Financial Group increased their price target on shares of Okta from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 target price on shares of Okta in a research report on Wednesday, August 27th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Barclays increased their price target on Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Finally, Citigroup reissued a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Twenty-two research 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $118.94.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the transaction, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. This trade represents a 20.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,657 shares of company stock worth $5,898,754 over the last 90 days. 5.68% of the stock is owned by company insiders.

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.