Jacobson & Schmitt Advisors LLC Boosts Stock Holdings in Okta, Inc. $OKTA

Jacobson & Schmitt Advisors LLC raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 12.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,196 shares of the company’s stock after acquiring an additional 9,208 shares during the quarter. Jacobson & Schmitt Advisors LLC’s holdings in Okta were worth $7,904,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Okta during the third quarter worth about $7,946,000. SBI Securities Co. Ltd. grew its stake in Okta by 35.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock valued at $3,580,000 after acquiring an additional 9,340 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Okta during the 2nd quarter valued at about $30,074,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Okta by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after acquiring an additional 179,919 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on OKTA. Citigroup restated a “neutral” rating on shares of Okta in a research report on Monday, January 12th. DA Davidson reissued a “buy” rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Truist Financial cut their target price on Okta from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group upgraded shares of Okta from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $125.00 in a research report on Tuesday, December 16th. Twenty-five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.06.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,245 shares of company stock worth $3,385,624 in the last ninety days. 5.68% of the stock is owned by company insiders.

Okta Trading Up 2.3%

Shares of OKTA opened at $71.14 on Wednesday. The company’s 50-day moving average price is $87.36 and its 200 day moving average price is $88.20. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57. The firm has a market cap of $12.61 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share 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 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 business earned $0.67 earnings per share. The business’s revenue for the quarter 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. Equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has initiated a share 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 repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Okta 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.