Prospera Financial Services Inc Acquires 8,346 Shares of Okta, Inc. $OKTA

Prospera Financial Services Inc lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 79.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,869 shares of the company’s stock after purchasing an additional 8,346 shares during the period. Prospera Financial Services Inc’s holdings in Okta were worth $1,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Pinnacle Bancorp Inc. acquired a new stake in shares of Okta in the second quarter worth about $26,000. Harbour Investments Inc. raised its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares in the last quarter. Kiker Wealth Management LLC lifted its holdings in Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position 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 purchasing an additional 159 shares during the period. Finally, V Square Quantitative Management LLC boosted 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 purchasing an additional 281 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 in the company, valued at approximately $841,531.02. This represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. This represents a 6.98% decrease in their position. The SEC filing for this sale provides additional information. 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 Stock Performance

Okta stock opened at $85.58 on Wednesday. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 100.68, a PEG ratio of 4.21 and a beta of 0.84. Okta, Inc. has a 52-week low of $71.84 and a 52-week high of $127.57. The stock’s 50 day moving average price is $90.19 and its two-hundred day moving average price is $97.97.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank dropped their price target on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 27th. Citigroup reiterated a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. DA Davidson reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Friday, September 26th. BMO Capital Markets decreased their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a report on Wednesday, August 27th. Finally, Truist Financial upgraded Okta from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.91.

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.