Okta is set to enter the S&P 500, one of the most closely watched stock-market benchmarks in the United States, in a reshuffle that also moves two smaller companies up the index ladder.
S&P Dow Jones Indices announced on Friday, October 30, 2026, that Okta will join the S&P 500 before trading opens on Wednesday, November 4, 2026, replacing Kenvue. Kenvue is leaving the index because S&P 500 member Kimberly-Clark is acquiring it, in a deal expected to be completed soon, pending final closing conditions.
Okta, an identity and access management company, moves up from the S&P MidCap 400 into the Information Technology sector of the S&P 500. The same reshuffle moves Glaukos from the S&P SmallCap 600 into the MidCap 400 to replace Okta, and McGrath RentCorp into the SmallCap 600 to replace Glaukos.
Reuters reported on Monday, November 2, that Okta shares gained 3.6% in premarket trading after the announcement. MarketWatch reported that Okta’s stock had risen nearly 141% so far in 2026 and that its market value was around $38.8 billion.
Why S&P 500 membership matters
The S&P 500 tracks 500 large U.S.-listed companies and is widely used as a gauge of the broader U.S. stock market. Membership matters in part because funds that track the index adjust their holdings to reflect its constituents, which can affect demand for a newly added company’s shares. This article does not offer investment advice or make a price prediction.
Frequently asked questions
When does the change take effect? Okta is scheduled to join the S&P 500 before trading opens on Wednesday, November 4, 2026.
Why is Kenvue leaving? Kenvue is leaving because Kimberly-Clark, itself an S&P 500 member, is acquiring it, and the deal is expected to be completed soon, pending final closing conditions.
What does Okta do? Okta is an identity and access management company, helping organizations manage who can sign in to and use their systems and applications.
Sources
- S&P Dow Jones Indices announcement via PR Newswire
- Reuters November 2 markets report
- MarketWatch October 30 report
