SG Americas Securities LLC Reduces Position in Okta, Inc. $OKTA

SG Americas Securities LLC decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 23.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,737 shares of the company’s stock after selling 18,231 shares during the period. SG Americas Securities LLC’s holdings in Okta were worth $5,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC acquired a new stake in shares of Okta in the third quarter valued at approximately $297,000. CX Institutional increased its holdings in shares of Okta by 50.7% in the 3rd quarter. CX Institutional now owns 996 shares of the company’s stock valued at $91,000 after acquiring an additional 335 shares during the period. RPG Investment Advisory LLC raised its position in Okta by 7.3% in the 3rd quarter. RPG Investment Advisory LLC now owns 98,102 shares of the company’s stock valued at $8,996,000 after purchasing an additional 6,648 shares during the last quarter. Galvin Gaustad & Stein LLC acquired a new stake in Okta during the 3rd quarter worth $348,000. Finally, CoreCap Advisors LLC grew its position in Okta by 253.3% during the 3rd quarter. CoreCap Advisors LLC now owns 703 shares of the company’s stock worth $64,000 after purchasing an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $84.40, for a total value of $203,319.60. Following the sale, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. This represents a 17.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total transaction of $172,315.26. Following the completion of the sale, the insider owned 38,164 shares in the company, valued at $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,727 shares of company stock valued at $2,394,046. Insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Mizuho dropped their price target on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th. Roth Capital reaffirmed a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Scotiabank lowered their target price on Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 3rd. Finally, Robert W. Baird dropped their target price on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Twenty-four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and an average target price of $114.09.

Okta Trading Down 1.8%

NASDAQ OKTA opened at $92.23 on Friday. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 84.61, a PEG ratio of 4.31 and a beta of 0.76. The business’s 50 day moving average is $86.21 and its two-hundred day moving average is $90.52. Okta, Inc. has a 12-month low of $75.05 and a 12-month high of $127.57.

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

Okta declared that its board has authorized a stock buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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.