SG Americas Securities LLC Lowers Stock Holdings in Okta, Inc. $OKTA

SG Americas Securities LLC cut its position in Okta, Inc. (NASDAQ:OKTA) by 23.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,737 shares of the company’s stock after selling 18,231 shares during the quarter. SG Americas Securities LLC’s holdings in Okta were worth $5,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC purchased a new position in Okta during the 3rd quarter valued at about $297,000. CX Institutional lifted its position in shares of Okta by 50.7% during the third quarter. CX Institutional now owns 996 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares in the last quarter. RPG Investment Advisory LLC boosted its stake in shares of Okta by 7.3% in the third quarter. RPG Investment Advisory LLC now owns 98,102 shares of the company’s stock valued at $8,996,000 after purchasing an additional 6,648 shares during the period. Galvin Gaustad & Stein LLC acquired a new position in shares of Okta in the third quarter valued at approximately $348,000. Finally, CoreCap Advisors LLC increased its stake in Okta by 253.3% during the 3rd quarter. CoreCap Advisors LLC now owns 703 shares of the company’s stock worth $64,000 after buying an additional 504 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Okta stock opened at $92.23 on Friday. The stock has a market cap of $16.35 billion, a PE ratio of 84.61, a P/E/G ratio of 4.31 and a beta of 0.76. The stock’s fifty day moving average is $86.21 and its two-hundred day moving average is $90.52. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the prior year, the business posted $0.67 EPS. 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. On average, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its board has approved a share buyback program on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value 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. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the sale, the insider owned 11,266 shares in the company, valued at $950,850.40. This represents a 17.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,727 shares of company stock valued at $2,394,046. 5.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a report on Wednesday, December 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a research note on Monday, December 1st. DA Davidson reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Roth Capital restated a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Okta in a research note on Friday, December 12th. Twenty-four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.09.

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.