Wedbush Securities Inc. Acquires New Stake in Okta, Inc. $OKTA

Posted by George Bondi on Oct 28th, 2026

Wedbush Securities Inc. acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,334 shares of the company’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in Okta in the third quarter worth approximately $26,000. Polaris Financial Partners bought a new position in Okta during the 3rd quarter valued at $36,000. Washington Trust Advisors Inc. boosted its stake in Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Okta during the 3rd quarter valued at $63,000. Institutional investors own 86.64% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

Positive Sentiment: A channel-partner survey indicated healthier cybersecurity budgets, stable demand, and improving pipeline activity. Okta reportedly showed the strongest quarter-over-quarter pipeline build among the vendors surveyed, supporting optimism about upcoming results. Why Okta Stock Is Up Today
Positive Sentiment: Investor enthusiasm remains elevated around Okta’s expansion into AI-agent and non-human identity security, areas viewed as increasingly important as companies address vulnerabilities discovered by artificial intelligence. Black October Is Changing How Companies Buy Cybersecurity
Positive Sentiment: Broader cybersecurity stocks and exchange-traded funds have gained attention as “Black October” cyber incidents and AI-discovered flaws reinforce demand for security software. This industry-wide momentum is providing a favorable backdrop for OKTA. Cybersecurity ETFs in Spotlight
Neutral Sentiment: Okta’s chief executive, Todd McKinnon, discussed decision-making and competing instincts for company founders. The commentary may support the company’s leadership profile but did not provide a specific financial or operating update. Okta CEO Todd McKinnon Interview
Negative Sentiment: Quiver data shows significant insider selling over the past six months, including sales by CEO Todd McKinnon and CFO Brett Tighe, with no reported insider purchases. Such activity can temper investor enthusiasm, although it may also reflect routine equity compensation or diversification.
Negative Sentiment: At its recent trading level, OKTA’s valuation appears demanding relative to several older analyst price targets, creating downside risk if growth or forward guidance fails to accelerate. Wall Street brokerages nevertheless recently characterized the stock as a “Moderate Buy.” Okta Rated Moderate Buy

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $226.07 on Wednesday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The company has a 50 day moving average price of $188.11 and a 200 day moving average price of $122.81.

Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Sell-side analysts predict that Okta, Inc. will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein downgraded Okta from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $143.00 to $174.00 in a research note on Thursday, September 17th. BMO Capital Markets raised their target price on Okta from $230.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. UBS Group lifted their target price on Okta from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company lifted their target price on Okta from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Finally, Oppenheimer boosted their price target on shares of Okta from $190.00 to $227.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

Read Our Latest Analysis on Okta

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 41,251 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. This trade represents a 84.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the transaction, the insider owned 18,668 shares of the company’s stock, valued at $3,427,071.44. This trade represents a 25.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,766 shares of company stock valued at $23,927,112 in the last three months. 4.61% of the stock is currently owned by corporate insiders.

About Okta

(Free Report)

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.