Okta, Inc. $OKTA Shares Sold by GK Wealth Management LLC

GK Wealth Management LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 79.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 965 shares of the company’s stock after selling 3,721 shares during the period. GK Wealth Management LLC’s holdings in Okta were worth $202,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new position in shares of Okta in the third quarter worth $26,000. SHP Wealth Management acquired a new position in Okta during the fourth quarter valued at $27,000. Washington Trust Advisors Inc. raised its stake in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after buying an additional 77 shares during the last quarter. Polaris Financial Partners acquired a new stake in Okta during the third quarter worth about $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s latest quarterly results showed approximately 11% revenue growth, 17% growth in remaining performance obligations and 14% growth in current remaining performance obligations. Management also raised full-year free-cash-flow guidance to $910 million–$930 million, supporting the view that growth is translating into stronger cash generation. Okta second-quarter fiscal 2027 results
• Positive Sentiment: Investors are viewing Okta as a potential beneficiary of enterprise AI adoption. The company is positioning identity, governance and runtime controls as essential for securing AI agents, while its Blueprint Alliance with technology and cybersecurity partners strengthens that strategic narrative. Blueprint Alliance announcement
• Positive Sentiment: Okta’s push for phishing-resistant authentication, including its partnership with Yubico, gives the company additional exposure to growing concerns about AI-enhanced phishing attacks and passwordless security. Okta phishing-resistant authentication coverage
• Neutral Sentiment: Amerx initiated coverage with a Hold rating, while recent institutional activity was mixed: several large investors added shares, but UBS and Norges Bank reduced positions. Amerx Okta coverage
• Negative Sentiment: Valuation and insider activity remain risks. OKTA has gained sharply year to date, while the reported median analyst price target of $120 is well below the recent trading level. Insiders have made substantially more sales than purchases over the past six months, including selling by CEO Todd McKinnon and CFO Brett Tighe.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKTA. Piper Sandler raised their target price on Okta from $105.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Bank of America boosted their price target on shares of Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, September 24th. BMO Capital Markets lifted their price objective on Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer lifted their price target on Okta from $190.00 to $227.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.10.

Insiders Place Their Bets

In related news, insider Eric Kelleher sold 6,395 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the transaction, the insider owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. This represents a 25.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 137,766 shares of company stock worth $23,927,112. Insiders own 4.61% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $232.13 on Friday. The firm has a market cap of $40.58 billion, a price-to-earnings ratio of 139.84, a PEG ratio of 6.85 and a beta of 0.73. The stock’s 50-day moving average is $173.68 and its two-hundred day moving average is $129.27. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $232.98.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, research analysts predict that Okta, Inc. will post 1.92 EPS for the current year.

Okta Company Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.