$OKTA

Arista Networks reported $2.9B revenue in FY2026, up 11.8%, with $235M net income and 8.1% margin. It has low debt and strong cash flow but faces risks from customer concentration and competition. Okta expects $3.2B revenue in FY2026, up 10%, with net income improving 50%. It competes with Microsoft and has cybersecurity risks. Arista is seen as more affordable with faster growth, while Okta has long-term AI-driven opportunities.

Invesco S&P 500 Equal Weight Tech ETF (RSPT) reported $175.4M in gross activity, buying Okta (OKTA) for $89.1M and selling small stakes in Accenture (ACN), PTC (PTC), and Autodesk (ADSK). RSPT holds 76 large-cap tech stocks, with top holdings including PTC, Accenture, and Autodesk. The fund has a 0.4% expense ratio, P/E of 28.31, and 25.5% YTD return.

ETFs bought $99.5M of Okta (OKTA) shares on Nov. 4, reversing a $359.3M outflow the prior day. Top buyers included RSP, RSPT, and RPG. Okta's market cap is $29.9B, with a P/E ratio of 103.42. The stock is up 97.94% year to date, with a GF Value of $108.77.

Palo Alto Networks (PANW) and Okta (OKTA) fell 10% and 11% respectively due to an AI sell-off. PANW trades at 84x forward earnings, above its 5-year average, and faces scrutiny on organic growth and share count in its Nov. 18 report. OKTA, down 11%, guides 10-11% revenue growth. PANW is reportedly in talks to acquire Clutch Security for $500M.

Palantir (PLTR), CrowdStrike (CRWD), and Okta (OKTA) stocks fell 10%, 9%, and 10% respectively, as Wall Street retreated from AI-related software investments post-election. Palantir's market value dropped by $40B, and its stock is down 13% YTD. The declines follow strong YTD gains for these companies, with Okta up 98% and CrowdStrike up 86%. Palantir's Q3 earnings beat expectations, with revenue up 96% YoY, but political risks and high valuations may pressure the sector.

State Street Tech Select Sector SPDR ETF (XLK) reported $352.2M in gross activity, with net selling of $42.2M. It added a new $155M stake in Okta (OKTA) and sold shares in NVIDIA (NVDA), Apple (AAPL), and Microsoft (MSFT). XLK holds 76 stocks, with top holdings including NVDA, AAPL, and MSFT.

iShares Core S&P 500 ETF (IVV) added $1.48B in net new positions, including $421.4M in Okta (OKTA), $81.3M in NVIDIA (NVDA), and $78.8M in Apple (AAPL). IVV's total assets under management reached $886.84B, with technology being its largest sector exposure.

ETFs sold a net $360.6 million of Okta (OKTA) stock on Tuesday, with 11 funds selling and 31 buying. The largest sellers included IJH, IJK, and SPMD. Okta is a cloud-based identity and access management company with a market cap of $33.4 billion. ETFs have been net sellers of OKTA over the last 5 reported days.

S&P Dow Jones Indices announced Okta (OKTA) will replace Kenvue (KVUE) in the S&P 500 on November 4, 2026, due to Kenvue's acquisition by Kimberly-Clark (KMB). Kenvue shareholders will receive $3.50 cash plus 0.14625 KMB shares per KVUE share. KMB's stock is up 7.5% YTD, while OKTA is up 136.0% YTD. The deal's closing date is pending.

Okta Inc. (OKTA) rose 0.36% in premarket trading after S&P Dow Jones Indices announced it will join the S&P 500 on November 4, replacing Kenvue Inc. (KVUE), which is being acquired by Kimberly-Clark (KMB).