Strs Ohio Reduces Holdings in Okta, Inc. $OKTA

Strs Ohio trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,939 shares of the company’s stock after selling 21,007 shares during the quarter. Strs Ohio’s holdings in Okta were worth $11,090,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OKTA. Root Financial Partners LLC bought a new stake in shares of Okta during the 3rd quarter valued at $26,000. Promus Capital LLC bought a new stake in Okta during the second quarter valued at about $27,000. Kiker Wealth Management LLC increased its position in Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Okta by 88.3% in 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 during the period. Finally, Financial Consulate Inc. bought a new position in shares of Okta in the third quarter worth about $40,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $90.76 on Monday. The company has a market cap of $16.09 billion, a P/E ratio of 83.27, a P/E/G ratio of 4.24 and a beta of 0.76. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57. The firm’s fifty day moving average is $87.23 and its two-hundred day moving average is $89.94.

Okta (NASDAQ:OKTA) last released its quarterly earnings data 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 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 the consensus estimate of $730.23 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the sale, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. This represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 8,370 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total value of $754,890.30. Following the transaction, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This represents a 42.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 36,727 shares of company stock worth $3,344,746. 5.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OKTA has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and issued a $138.00 target price on shares of Okta in a report on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Okta in a research note on Friday, December 12th. Berenberg Bank assumed coverage on shares of Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 target price on the stock. Piper Sandler upped their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Finally, DA Davidson reissued a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.88.

About Okta

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.