Congress Asset Management Co. Increases Stock Position in Okta, Inc. $OKTA

Congress Asset Management Co. boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 23.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 98,063 shares of the company’s stock after acquiring an additional 18,325 shares during the period. Congress Asset Management Co.’s holdings in Okta were worth $8,480,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Okta by 227.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 142,884 shares of the company’s stock valued at $12,355,000 after acquiring an additional 99,212 shares during the period. Diversified Trust Co. increased its stake in shares of Okta by 27.2% in the 4th quarter. Diversified Trust Co. now owns 13,284 shares of the company’s stock valued at $1,149,000 after purchasing an additional 2,842 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. Board of the Pension Protection Fund acquired a new position in Okta in the 4th quarter worth about $52,000. Finally, GK Wealth Management LLC boosted its position in Okta by 4.1% during the fourth quarter. GK Wealth Management LLC now owns 5,447 shares of the company’s stock worth $471,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen dropped their price objective on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Needham & Company LLC dropped their price target on shares of Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their price target on shares of Okta from $97.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.25.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported a quarterly earnings and revenue beat and reaffirmed FY‑2027 and Q1 guidance, which supports the company’s revenue trajectory and profitability outlook. Earnings Beat
• Positive Sentiment: The board authorized a $1.0 billion share repurchase program (up to ~6.8% of shares), a direct capital-return signal that can support the share price and reduce float over time.
• Neutral Sentiment: Multiple short‑interest reports for March show “0” shares and NaN changes — the data appears unreliable or not meaningful, so there’s no clear evidence of a large short bet pressuring the stock. (Market data noise.)
• Neutral Sentiment: Media and research outlets (Zacks and others) are flagging Okta as a trending/momentum name and highlighting product expansion (AI‑driven identity offerings). That can sustain interest but is informational rather than an immediate price catalyst. Zacks Trending Piece
• Negative Sentiment: An Okta insider, Eric Robert Kelleher, sold 16,818 shares (avg. $80) on Mar 19 — a $1.35M transaction that materially reduced his stake; such sales can be interpreted as bearish by some investors. Insider Sale
• Negative Sentiment: Several analysts have trimmed price targets (e.g., Citigroup, Stephens, Morgan Stanley), which increases downward pressure by resetting street expectations and may reduce near‑term demand.
• Negative Sentiment: Okta announced an upcoming board transition after a director resignation (Jeff Epstein), a governance event investors may watch for potential strategic or oversight implications. Board Transition

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the transaction, the insider directly owned 79,422 shares of the company’s stock, valued at approximately $6,345,023.58. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 16,818 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the transaction, the insider owned 15,470 shares in the company, valued at $1,237,600. The trade was a 52.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,798 shares of company stock valued at $2,971,704 in the last 90 days. 5.68% of the stock is owned by insiders.

Okta Price Performance

NASDAQ OKTA opened at $76.76 on Wednesday. The company has a market cap of $13.58 billion, a PE ratio of 58.60, a price-to-earnings-growth ratio of 3.17 and a beta of 0.79. The stock’s 50 day simple moving average is $82.50 and its 200-day simple moving average is $86.29. Okta, Inc. has a 1-year low of $68.77 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 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 has authorized a share buyback program on Monday, January 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Okta

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.