Hussman Strategic Advisors Inc. Acquires Shares of 10,500 Okta, Inc. $OKTA

Hussman Strategic Advisors Inc. bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,500 shares of the company’s stock, valued at approximately $963,000.

A number of other large investors have also made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in Okta during the third quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in shares of Okta in the 2nd quarter worth $27,000. Kiker Wealth Management LLC increased its stake in shares of 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 acquiring an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares during the period. Finally, Financial Consulate Inc. acquired a new position in shares of Okta during the 3rd quarter valued at about $40,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OKTA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Barclays reduced their price target on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 18th. Mizuho lowered their price objective on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, November 17th. Morgan Stanley cut their target price on Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Finally, Susquehanna decreased their price target on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Twenty-five investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.88.

Okta Stock Down 0.8%

OKTA opened at $90.74 on Thursday. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The business has a fifty day simple moving average of $87.85 and a 200-day simple moving average of $89.92. The firm has a market cap of $16.08 billion, a P/E ratio of 83.25, a P/E/G ratio of 4.28 and a beta of 0.76.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (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 firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the business 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. Sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has authorized a share repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares in the company, valued at approximately $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,727 shares of company stock worth $3,344,746 over the last ninety days. Company insiders own 5.68% of the company’s stock.

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.