Cullen Frost Bankers Inc. Has $34,000 Stock Position in Okta, Inc. $OKTA

Cullen Frost Bankers Inc. raised its position in Okta, Inc. (NASDAQ:OKTA) by 88.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339 shares of the company’s stock after acquiring an additional 159 shares during the period. Cullen Frost Bankers Inc.’s holdings in Okta were worth $34,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in shares of Okta during the 1st quarter worth approximately $27,000. Harbour Investments Inc. lifted its position in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares during the period. Pinnacle Bancorp Inc. bought a new position in shares of Okta during the 2nd quarter worth approximately $26,000. Rossby Financial LCC bought a new position in shares of Okta during the 1st quarter worth approximately $31,000. Finally, Kiker Wealth Management LLC lifted its position in shares of Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Westpark Capital restated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, August 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Okta in a report on Friday, September 26th. BMO Capital Markets dropped their price target on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a report on Wednesday, August 27th. Guggenheim reaffirmed a “buy” rating and set a $138.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a report on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $118.94.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,657 shares of company stock worth $5,898,754 over the last three months. Insiders own 5.68% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $89.07 on Monday. The stock has a fifty day moving average of $91.09 and a 200-day moving average of $98.95. The stock has a market capitalization of $15.59 billion, a P/E ratio of 104.79, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

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

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.