2,334 Shares in Okta, Inc. $OKTA Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the third quarter, Holdings Channel reports. The firm acquired 2,334 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in Okta during the 3rd quarter valued at $26,000. Polaris Financial Partners purchased a new stake in shares of Okta in the third quarter valued at $36,000. Washington Trust Advisors Inc. lifted its holdings in shares of Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Okta by 279.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after buying an additional 218 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Okta in the third quarter worth $63,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OKTA shares. Oppenheimer lifted their price target on Okta from $190.00 to $227.00 and gave the company an “outperform” rating in a report on Thursday, September 24th. Robert W. Baird increased their price objective on Okta from $200.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, September 25th. Jefferies Financial Group increased their price objective on Okta from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. HC Wainwright started coverage on Okta in a research report on Monday, July 6th. They set a “buy” rating for the company. Finally, Stephens lifted their target price on Okta from $190.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.38.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: A channel-partner survey indicated healthier cybersecurity budgets, stable demand, and improving pipeline activity. Okta reportedly showed the strongest quarter-over-quarter pipeline build among the vendors surveyed, supporting optimism about upcoming results. Why Okta Stock Is Up Today
• Positive Sentiment: Investor enthusiasm remains elevated around Okta’s expansion into AI-agent and non-human identity security, areas viewed as increasingly important as companies address vulnerabilities discovered by artificial intelligence. Black October Is Changing How Companies Buy Cybersecurity
• Positive Sentiment: Broader cybersecurity stocks and exchange-traded funds have gained attention as “Black October” cyber incidents and AI-discovered flaws reinforce demand for security software. This industry-wide momentum is providing a favorable backdrop for OKTA. Cybersecurity ETFs in Spotlight
• Neutral Sentiment: Okta’s chief executive, Todd McKinnon, discussed decision-making and competing instincts for company founders. The commentary may support the company’s leadership profile but did not provide a specific financial or operating update. Okta CEO Todd McKinnon Interview
• Negative Sentiment: Quiver data shows significant insider selling over the past six months, including sales by CEO Todd McKinnon and CFO Brett Tighe, with no reported insider purchases. Such activity can temper investor enthusiasm, although it may also reflect routine equity compensation or diversification.
• Negative Sentiment: At its recent trading level, OKTA’s valuation appears demanding relative to several older analyst price targets, creating downside risk if growth or forward guidance fails to accelerate. Wall Street brokerages nevertheless recently characterized the stock as a “Moderate Buy.” Okta Rated Moderate Buy

Okta Price Performance

Shares of NASDAQ:OKTA opened at $226.07 on Wednesday. The firm has a fifty day moving average of $188.11 and a two-hundred day moving average of $122.81. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. During the same period last year, the company posted $0.91 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts predict that Okta, Inc. will post 1.92 EPS for the current year.

Insider Activity at Okta

In other Okta news, CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the transaction, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the sale, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 137,766 shares of company stock valued at $23,927,112. Insiders own 4.61% of the company’s stock.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.