Jackson Square Partners LLC Decreases Position in Okta, Inc. $OKTA

Jackson Square Partners LLC lessened its position in Okta, Inc. (NASDAQ:OKTA) by 22.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 28,349 shares of the company’s stock after selling 8,001 shares during the period. Jackson Square Partners LLC’s holdings in Okta were worth $2,600,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in Okta by 5.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after acquiring an additional 113 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Okta by 2.5% in the second quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock worth $511,000 after purchasing an additional 126 shares during the last quarter. Courier Capital LLC raised its stake in shares of Okta by 1.5% in the second quarter. Courier Capital LLC now owns 9,680 shares of the company’s stock worth $968,000 after purchasing an additional 145 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Okta by 0.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 37,804 shares of the company’s stock valued at $3,779,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of recent analyst reports. Susquehanna decreased their target price on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $120.00 price objective on shares of Okta in a report on Wednesday, December 3rd. Barclays lowered their price objective 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. Piper Sandler lifted their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, Jefferies Financial Group raised Okta from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $125.00 in a report on Tuesday, December 16th. Twenty-five 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.88.

Okta Trading Up 5.6%

Shares of OKTA stock opened at $86.74 on Friday. The company has a 50 day simple moving average of $88.54 and a two-hundred day simple moving average of $89.50. The stock has a market cap of $15.37 billion, a P/E ratio of 79.58, a P/E/G ratio of 3.46 and a beta of 0.77. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter 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. As a group, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

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

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 1,899 shares of Okta stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 2,409 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $84.40, for a total value of $203,319.60. Following the transaction, the insider owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. This trade represents a 17.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 36,727 shares of company stock worth $3,344,746. Corporate insiders own 5.68% of the company’s stock.

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.