Allianz Asset Management GmbH Sells 122,257 Shares of Okta, Inc. $OKTA

Allianz Asset Management GmbH trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 92.5% during the third quarter, Holdings Channel.com reports. The fund owned 9,964 shares of the company’s stock after selling 122,257 shares during the quarter. Allianz Asset Management GmbH’s holdings in Okta were worth $914,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in Okta by 32.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,707 shares of the company’s stock worth $429,000 after acquiring an additional 1,142 shares during the period. Mediolanum International Funds Ltd lifted its position in shares of Okta by 57.6% during the 3rd quarter. Mediolanum International Funds Ltd now owns 59,741 shares of the company’s stock valued at $5,607,000 after acquiring an additional 21,841 shares during the period. UMB Bank n.a. grew its holdings in shares of Okta by 16.9% during the 3rd quarter. UMB Bank n.a. now owns 1,632 shares of the company’s stock worth $150,000 after purchasing an additional 236 shares in the last quarter. Independent Advisor Alliance increased its position in shares of Okta by 26.5% in the third quarter. Independent Advisor Alliance now owns 6,662 shares of the company’s stock worth $611,000 after purchasing an additional 1,394 shares during the period. Finally, AlphaQuest LLC increased its position in shares of Okta by 12.8% in the third quarter. AlphaQuest LLC now owns 2,603 shares of the company’s stock worth $239,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the transaction, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,245 shares of company stock worth $3,385,624 in the last 90 days. 5.68% of the stock is owned by company insiders.

Okta Stock Up 2.8%

Shares of OKTA opened at $87.26 on Friday. The stock has a market cap of $15.47 billion, a PE ratio of 80.06, a PEG ratio of 3.38 and a beta of 0.77. Okta, Inc. has a 12-month low of $75.05 and a 12-month high of $127.57. The business has a 50-day simple moving average of $88.86 and a two-hundred day simple moving average of $89.19.

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

Okta declared that its board has initiated a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OKTA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Okta in a report on Wednesday, December 3rd. Guggenheim restated a “buy” rating and set a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Berenberg Bank began coverage on Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price on the stock. UBS Group reiterated a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Finally, Citigroup reissued a “neutral” rating on shares of Okta in a report on Monday, January 12th. Twenty-five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.88.

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.