Okta, Inc. $OKTA Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 6.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,107 shares of the company’s stock after selling 914 shares during the period. Janney Montgomery Scott LLC’s holdings in Okta were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in shares of Okta by 283.5% in the first quarter. Farther Finance Advisors LLC now owns 2,228 shares of the company’s stock worth $233,000 after acquiring an additional 1,647 shares during the period. Yousif Capital Management LLC acquired a new position in shares of Okta in the first quarter worth about $222,000. GAMMA Investing LLC raised its position in shares of Okta by 255.3% in the first quarter. GAMMA Investing LLC now owns 1,201 shares of the company’s stock worth $126,000 after acquiring an additional 863 shares during the period. CX Institutional acquired a new position in shares of Okta in the first quarter worth about $52,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Okta by 220.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,917 shares of the company’s stock worth $4,095,000 after acquiring an additional 26,791 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 6,091 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares of the company’s stock, valued at $654,474.87. This represents a 46.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold 136,267 shares of company stock worth $12,780,944 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Okta Trading Down 4.6%

OKTA stock opened at $89.35 on Monday. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 105.12, a PEG ratio of 4.39 and a beta of 0.84. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a 50-day moving average of $91.91 and a two-hundred day moving average of $99.69.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKTA. Westpark Capital reiterated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday, September 26th. Finally, Arete started coverage on shares of Okta in a research report on Monday, July 7th. They set a “sell” rating and a $83.00 price target for the company. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $118.94.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.