Okta
OKTA on Nasdaq. Okta sells identity and access software to organizations. Market value $16.4bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.46 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 60 of 100. Price score: 34 of 100. Our list needs 70 on quality and 60 on price.
$218.29 a share, 248% above its 1-year low
Over the past year the price has ranged from $62.66 to $219.68.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.3bn | $1.9bn | $2.3bn | $2.6bn | $2.9bn |
| Operating margin | |||||
| Operating margin | -59.1% | -43.7% | -22.8% | -2.8% | 5.1% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.15bn | 0.16bn | 0.16bn | 0.18bn | 0.18bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 28.4% a year
- Buying back its own sharesNo, 21% more shares since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $805 million last quarter, up 11% on a year ago.
- Profit: $116 million, up 73% on a year ago.
- It keeps 8 cents of each $1 of sales as operating profit, up from 3 cents a year earlier.
- Spare cash over the past 12 months: $961 million, up from $838 million.
- 1% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $665m |
| January 2025 | $682m |
| April 2025 | $688m |
| July 2025 | $728m |
| October 2025 | $742m |
| January 2026 | $761m |
| April 2026 | $765m |
| July 2026 | $805m |
| Quarter to | Amount |
|---|---|
| October 2024 | $16m |
| January 2025 | $23m |
| April 2025 | $62m |
| July 2025 | $67m |
| October 2025 | $43m |
| January 2026 | $63m |
| April 2026 | $74m |
| July 2026 | $116m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 5 March 2026
- Next quarterly (estimated, 10-Q)
- 26 November 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 821 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| ShawSpring PartnersDennis Hong | $32m | 13.8% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $10m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $4m | <0.1% | Added |
| First Manhattan Co.First Manhattan partners | $500,089 | <0.1% | New |
Largest holders overall
- BlackRock$2.6bn
- FMR$2.2bnAdded
- Vanguard Portfolio Management$1.2bnCut
- Vanguard Capital Management$1.0bn
- State Street$856mAdded
- First Trust Advisors LP$614mAdded
- Allspring Global Investments Holdings$510mAdded
- Morgan Stanley$469mAdded
- Geode Capital Management$445mCut
- Massachusetts Financial Services$421mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- FMR LLCPassive investorat least 11.6%+1.8 pts(filed with 1 related holder)Since 31 July 2026
- BlackRock, Inc.Passive investor10.5%Since 30 April 2025
- Vanguard Portfolio ManagementPassive investor5.5%Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.4%Since 31 March 2026
- SANDS CAPITAL MANAGEMENT, LLCPassive investorSold down below 5%Since 31 December 2024
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 11.6%+1.8 pts (filed with 1 related holder) | 31 July 2026 | |
BlackRock, Inc. Passive investor | 10.5% | 30 April 2025 | |
Vanguard Portfolio Management Passive investor | 5.5% | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.4% | 31 March 2026 | |
SANDS CAPITAL MANAGEMENT, LLC Passive investor | Sold down below 5% | 31 December 2024 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $267,404 of shares on the open market. 7 sold $55m, $55m of it under preset trading plans.
- McKinnon ToddChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 22 September 2026
- Shares
- 48,822
- Price
- $193.48
- Value
- $9m
- Kelleher Eric RobertSee RemarksSoldunder a preset trading plan
- Date
- 18 September 2026
- Shares
- 6,395
- Price
- $183.58
- Value
- $1m
- Kelleher Eric RobertSee RemarksSoldunder a preset trading plan
- Date
- 11 September 2026
- Shares
- 2,549
- Price
- $168.55
- Value
- $429,643
- Tighe BrettChief Financial OfficerSoldunder a preset trading plan
- Date
- 2 September 2026
- Shares
- 80,000
- Price
- $160.97
- Value
- $13m
- McKinnon ToddChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 8 July 2026
- Shares
- 68,936
- Price
- $146.62
- Value
- $10m
- Schwartz LarissaSee RemarksSoldunder a preset trading plan
- Date
- 22 June 2026
- Shares
- 2,463
- Price
- $120.00
- Value
- $295,560
- Kelleher Eric RobertSee RemarksSoldunder a preset trading plan
- Date
- 18 June 2026
- Shares
- 3,977
- Price
- $114.10
- Value
- $453,769
- Tighe BrettChief Financial OfficerSoldunder a preset trading plan
- Date
- 8 June 2026
- Shares
- 65,000
- Price
- $117.25
- Value
- $8m
- Schwartz LarissaSee RemarksSoldunder a preset trading plan
- Date
- 2 June 2026
- Shares
- 24,971
- Price
- $134.13
- Value
- $3m
- ARCHAMBEAU SHELLYE LDirectorSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 2,500
- Price
- $85.00
- Value
- $212,500
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 22 September 2026 | McKinnon Todd Chief Executive Officer, Director | Sold under a preset trading plan | 48,822 | $193.48 | $9m |
| 18 September 2026 | Kelleher Eric Robert See Remarks | Sold under a preset trading plan | 6,395 | $183.58 | $1m |
| 11 September 2026 | Kelleher Eric Robert See Remarks | Sold under a preset trading plan | 2,549 | $168.55 | $429,643 |
| 2 September 2026 | Tighe Brett Chief Financial Officer | Sold under a preset trading plan | 80,000 | $160.97 | $13m |
| 8 July 2026 | McKinnon Todd Chief Executive Officer, Director | Sold under a preset trading plan | 68,936 | $146.62 | $10m |
| 22 June 2026 | Schwartz Larissa See Remarks | Sold under a preset trading plan | 2,463 | $120.00 | $295,560 |
| 18 June 2026 | Kelleher Eric Robert See Remarks | Sold under a preset trading plan | 3,977 | $114.10 | $453,769 |
| 8 June 2026 | Tighe Brett Chief Financial Officer | Sold under a preset trading plan | 65,000 | $117.25 | $8m |
| 2 June 2026 | Schwartz Larissa See Remarks | Sold under a preset trading plan | 24,971 | $134.13 | $3m |
| 18 May 2026 | ARCHAMBEAU SHELLYE L Director | Sold under a preset trading plan | 2,500 | $85.00 | $212,500 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Mar 2026, plus the 10-Q filed 27 Aug 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.