Eminence Capital LP Decreases Stake in Okta, Inc. $OKTA

Eminence Capital LP decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 60.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 979,542 shares of the company’s stock after selling 1,504,802 shares during the quarter. Eminence Capital LP owned about 0.56% of Okta worth $97,925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta during the 2nd quarter worth $26,000. Kiker Wealth Management LLC lifted its stake in shares of Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares in the last quarter. V Square Quantitative Management LLC grew its position in Okta by 126.0% during the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Okta by 572.5% during the second quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock worth $54,000 after buying an additional 458 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Down 0.5%

Okta stock opened at $90.18 on Friday. The stock has a 50-day moving average price of $86.38 and a 200 day moving average price of $92.48. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The stock has a market cap of $15.79 billion, a PE ratio of 82.73, a P/E/G ratio of 4.27 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 6,091 shares of the firm’s stock in a transaction 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 sale, the executive owned 7,067 shares in the company, valued at $654,474.87. This trade 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, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale is available in the SEC filing. Insiders sold 66,293 shares of company stock worth $6,124,092 in the last three months. 5.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKTA shares. BMO Capital Markets reduced their price target on shares of Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, December 3rd. KeyCorp reissued an “overweight” rating and issued a $140.00 target price on shares of Okta in a report on Monday, December 1st. Mizuho dropped their price target on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, November 17th. Citigroup cut their price target on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research note on Wednesday, October 8th. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.91.

About Okta

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.