Hennion & Walsh Asset Management Inc. Buys New Stake in Okta, Inc. $OKTA

Hennion & Walsh Asset Management Inc. bought a new position in Okta, Inc. (NASDAQ:OKTA) during the third quarter, HoldingsChannel.com reports. The fund bought 5,986 shares of the company’s stock, valued at approximately $549,000.

Other institutional investors have also recently made changes to their positions in the company. Fluent Financial LLC boosted its stake in Okta by 94.9% in the second quarter. Fluent Financial LLC now owns 10,825 shares of the company’s stock valued at $1,082,000 after acquiring an additional 5,272 shares in the last quarter. Ninety One SA PTY Ltd lifted its holdings in shares of Okta by 57.9% in the 2nd quarter. Ninety One SA PTY Ltd now owns 49,209 shares of the company’s stock valued at $4,920,000 after purchasing an additional 18,046 shares during the last quarter. US Bancorp DE boosted its position in shares of Okta by 478.0% in the 2nd quarter. US Bancorp DE now owns 408,888 shares of the company’s stock valued at $40,877,000 after purchasing an additional 338,143 shares during the period. Smith Group Asset Management LLC grew its stake in Okta by 2.0% during the 2nd quarter. Smith Group Asset Management LLC now owns 242,793 shares of the company’s stock worth $24,272,000 after buying an additional 4,798 shares during the last quarter. Finally, Ninety One UK Ltd increased its position in Okta by 52.1% during the second quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock worth $274,370,000 after buying an additional 939,589 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 2,409 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were 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 of the company’s stock, valued at approximately $950,850.40. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total transaction of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,727 shares of company stock worth $2,394,046 over the last 90 days. Company insiders own 5.68% of the company’s stock.

Wall Street Analyst Weigh In

OKTA has been the subject of several research analyst reports. Scotiabank decreased their price objective on Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a report on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of Okta in a research note on Friday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Mizuho reduced their target price on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Finally, Berenberg Bank began coverage on Okta in a report on Tuesday, November 18th. They set a “buy” rating and a $145.00 price target on the stock. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.09.

Okta Price Performance

Okta stock opened at $92.23 on Monday. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57. The company has a market cap of $16.35 billion, a PE ratio of 84.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The stock’s 50 day moving average price is $86.21 and its 200 day moving average price is $90.47.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. Okta’s revenue was up 11.6% compared to the same quarter last year. 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, equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has authorized a share repurchase plan on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.