Okta (NASDAQ:OKTA) Price Target Cut to $85.00

Okta (NASDAQ:OKTA) had its target price trimmed by DA Davidson from $100.00 to $85.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock. DA Davidson also issued estimates for Okta’s Q3 2025 earnings at ($0.10) EPS.

Several other brokerages have also recently issued reports on OKTA. Truist Financial reiterated a hold rating and issued a $95.00 price objective (down previously from $105.00) on shares of Okta in a research note on Thursday. BMO Capital Markets raised their target price on shares of Okta from $100.00 to $103.00 and gave the company a market perform rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Okta from $110.00 to $105.00 and set a neutral rating for the company in a report on Thursday. Robert W. Baird reduced their price objective on shares of Okta from $108.00 to $105.00 and set an outperform rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered their target price on shares of Okta from $122.00 to $108.00 and set a buy rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $106.00.

Okta Trading Down 1.0 %

NASDAQ:OKTA opened at $78.73 on Thursday. Okta has a 12-month low of $65.04 and a 12-month high of $114.50. The firm has a market cap of $13.24 billion, a PE ratio of -47.14 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $93.07 and a 200 day moving average price of $95.52.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jacques Frederic Kerrest sold 18,878 shares of Okta stock in a transaction on Monday, June 10th. The shares were sold at an average price of $87.19, for a total value of $1,645,972.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 365,051 shares of company stock valued at $34,411,773. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sands Capital Management LLC lifted its position in Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares during the period. Norges Bank purchased a new position in shares of Okta during the 4th quarter worth approximately $150,794,000. Marshall Wace LLP lifted its holdings in shares of Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after buying an additional 1,227,890 shares during the period. First Trust Advisors LP boosted its stake in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after buying an additional 897,216 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Okta by 1,465.8% during the fourth quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock worth $61,823,000 after acquiring an additional 732,900 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

About Okta

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.