Voya Investment Management LLC Sells 91,315,008 Shares of Okta, Inc. $OKTA

Voya Investment Management LLC lowered its holdings in Okta, Inc. (NASDAQ:OKTA) by 98.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,318,346 shares of the company’s stock after selling 91,315,008 shares during the quarter. Voya Investment Management LLC owned 0.75% of Okta worth $120,892,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Okta by 12.6% during the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock worth $89,000 after acquiring an additional 92 shares during the period. Steward Partners Investment Advisory LLC grew its position in Okta by 5.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after purchasing an additional 113 shares during the last quarter. Norden Group LLC increased its holdings in shares of Okta by 3.7% during the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after purchasing an additional 116 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Okta by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock worth $113,000 after purchasing an additional 120 shares during the period. Finally, Simon Quick Advisors LLC raised its position in shares of Okta by 2.5% during the second quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock valued at $511,000 after buying an additional 126 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the firm’s 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 completion of the sale, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,332 shares of company stock worth $4,468,808 over the last ninety days. Company insiders own 5.68% of the company’s stock.

Okta Stock Performance

OKTA opened at $90.21 on Friday. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 82.76, a PEG ratio of 4.26 and a beta of 0.77. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57. The firm’s 50-day simple moving average is $86.13 and its 200-day simple moving average is $91.80.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKTA. The Goldman Sachs Group decreased their target price on Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Bank of America restated an “underperform” rating and issued a $75.00 target price on shares of Okta in a research note on Wednesday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Okta in a research report on Wednesday. Finally, Roth Capital reissued a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Twenty-four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

About Okta

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.