Okta, Inc. $OKTA Shares Sold by Triumph Capital Management

Triumph Capital Management trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 49.1% in the second quarter, Holdings Channel reports. The institutional investor owned 6,098 shares of the company’s stock after selling 5,892 shares during the period. Triumph Capital Management’s holdings in Okta were worth $832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OKTA. MassMutual Private Wealth & Trust FSB raised its position in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after acquiring an additional 218 shares in the last quarter. SHP Wealth Management purchased a new stake in Okta during the fourth quarter worth approximately $27,000. EFG International AG acquired a new position in Okta in the fourth quarter valued at approximately $61,000. Assetmark Inc. boosted its holdings in Okta by 81.1% in the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Okta by 378.3% in the third quarter. CIBC Private Wealth Group LLC now owns 727 shares of the company’s stock valued at $67,000 after purchasing an additional 575 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 68,936 shares of Okta stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the transaction, the chief executive officer directly owned 38,484 shares in the company, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares in the company, valued at approximately $3,028,920. This represents a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 140,376 shares of company stock valued at $18,477,982. Company insiders own 4.61% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham raised its price target to a Street-high $200, citing Okta’s opportunity to secure AI agents and growing demand for AI-enabled identity security. Okta Stock Gets Stunning $200 Price Target Hike on AI Agent Growth
• Positive Sentiment: Analyst optimism has followed Okta’s fiscal second-quarter results, which included an earnings and revenue beat, stronger subscription backlog, and increased fiscal 2027 guidance. The company also completed its Permiso Security acquisition, adding cloud-native identity threat detection capabilities. Okta gains as investors continue to digest strong quarterly results and a higher outlook
• Positive Sentiment: Scotiabank lifted its fiscal 2027 EPS estimate for Okta to $1.91 from $1.74, above the $1.77 consensus, signaling improving expectations for profitability. Scotiabank raises Okta earnings estimate
• Neutral Sentiment: Industry coverage remains favorable, identifying Okta as a leading AI-powered cybersecurity and digital-identity beneficiary as enterprises adopt passkeys, biometrics, and controls for human and non-human identities. However, Microsoft and CrowdStrike remain significant competitors. OKTA’s AI Security Push Gains Momentum Against CRWD and MSFT
• Negative Sentiment: The immediate trading backdrop is unfavorable: geopolitical uncertainty and higher bond yields are pressuring software and cybersecurity shares. Okta’s elevated valuation also leaves the stock sensitive to changes in interest rates and investor risk tolerance. Okta, Datadog, JFrog, Zscaler, and Elastic Shares Are Falling

Okta Trading Down 3.8%

OKTA stock opened at $166.43 on Wednesday. The company has a market capitalization of $28.93 billion, a P/E ratio of 100.26, a PEG ratio of 5.44 and a beta of 0.77. The business has a 50 day simple moving average of $143.44 and a 200-day simple moving average of $106.80. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $174.85.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Research analysts predict that Okta, Inc. will post 1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OKTA shares. DA Davidson boosted their price objective on shares of Okta from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Bank of America raised shares of Okta from an “underperform” rating to a “neutral” rating and increased their target price for the company from $75.00 to $170.00 in a research report on Thursday, August 27th. Berenberg Bank lifted their price target on shares of Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. New Street Research set a $200.00 price target on shares of Okta in a research report on Thursday, August 27th. Finally, Raymond James Financial boosted their price target on shares of Okta from $115.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.92.

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.