S&CO Inc. Grows Position in Okta, Inc. $OKTA

S&CO Inc. grew its position in Okta, Inc. (NASDAQ:OKTA) by 70.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,451 shares of the company’s stock after purchasing an additional 24,526 shares during the period. S&CO Inc.’s holdings in Okta were worth $5,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Root Financial Partners LLC acquired a new stake in shares of Okta in the third quarter worth $26,000. Promus Capital LLC purchased a new position in Okta in the second quarter valued at about $27,000. Kiker Wealth Management LLC lifted its stake in shares of Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares during the period. Finally, Westside Investment Management Inc. boosted its position in Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. The trade was a 4.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 35,409 shares of company stock valued at $3,232,373 in the last three months. 5.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKTA. TD Cowen restated a “hold” rating on shares of Okta in a research report on Wednesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a research report on Wednesday, December 17th. Jefferies Financial Group upgraded shares of Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $90.00 to $125.00 in a research note on Tuesday, December 16th. JPMorgan Chase & Co. decreased their price objective on Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, December 1st. Finally, Piper Sandler lifted their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.88.

Okta Trading Up 1.7%

OKTA stock opened at $88.18 on Tuesday. The firm has a market capitalization of $15.63 billion, a PE ratio of 80.90, a P/E/G ratio of 3.46 and a beta of 0.77. Okta, Inc. has a one year low of $75.05 and a one year high of $127.57. The firm has a 50-day moving average of $88.69 and a two-hundred day moving average of $89.39.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. 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 research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has authorized a stock buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Okta Company Profile

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.