Savant Capital LLC Trims Position in Okta, Inc. $OKTA

Savant Capital LLC lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 56.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,769 shares of the company’s stock after selling 18,987 shares during the quarter. Savant Capital LLC’s holdings in Okta were worth $1,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Smith Group Asset Management LLC lifted 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 acquiring an additional 4,798 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Okta during the third quarter worth approximately $7,946,000. SBI Securities Co. Ltd. increased its position in shares of Okta by 35.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock valued at $3,580,000 after purchasing an additional 9,340 shares during the last quarter. Stableford Capital II LLC purchased a new position in Okta in the second quarter valued at $565,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Okta in the 2nd quarter valued at about $30,074,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Okta stock opened at $88.18 on Tuesday. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The firm has a 50 day moving average price of $88.69 and a 200 day moving average price of $89.39. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 80.90, a PEG ratio of 3.46 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Sell-side analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Okta announced that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 2,409 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the completion of the sale, the insider directly owned 11,266 shares in the company, valued at $950,850.40. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,409 shares of company stock valued at $3,232,373 in the last quarter. Company insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Berenberg Bank assumed coverage on shares of Okta in a research report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Roth Mkm reissued a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Mizuho cut their price target 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, Citigroup reaffirmed a “neutral” rating on shares of Okta in a research note on Monday, January 12th. Twenty-five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.88.

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.