Jump Financial LLC Sells 40,379 Shares of Okta, Inc. $OKTA

Jump Financial LLC decreased its stake in Okta, Inc. (NASDAQ:OKTA) by 94.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,289 shares of the company’s stock after selling 40,379 shares during the period. Jump Financial LLC’s holdings in Okta were worth $241,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. TD Private Client Wealth LLC grew its holdings in shares of Okta by 19.6% in the 1st quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Okta by 5.7% in the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after acquiring an additional 92 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Okta by 12.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after acquiring an additional 92 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Okta by 7.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock valued at $156,000 after purchasing an additional 100 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Okta by 18.9% in the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock valued at $71,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.4%

Shares of OKTA stock opened at $89.82 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The firm has a 50 day moving average price of $94.47 and a two-hundred day moving average price of $102.11. The company has a market capitalization of $15.72 billion, a PE ratio of 105.67, a price-to-earnings-growth ratio of 4.52 and a beta of 0.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the sale, the director directly owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the sale, the chief executive officer owned 20,682 shares of the company’s stock, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKTA. Roth Capital reiterated a “buy” rating and issued a $119.00 target price on shares of Okta in a research note on Wednesday, May 28th. Zacks Research downgraded shares of Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Evercore ISI raised their target price on shares of Okta from $122.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, August 27th. Finally, UBS Group cut their target price on shares of Okta from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.25.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.