Okta Stock Drops 9% on Anthropic AI Security Launch

Okta Inc. (NASDAQ: OKTA) shares plunged 9.1% to close at $74.32 on Feb. 20, 2026, after Anthropic unveiled Claude Code Security. The tool autonomously scans for vulnerabilities and suggests patches, raising concerns that AI agents are shifting from support roles to direct substitutes for high-margin security software. This decline follows a 6.1% drop on Feb. 17, 2026, amid broader sector fears regarding "agentic AI" disrupting traditional SaaS models. Okta is now down 11.4% year-to-date and trades 41.8% below its 52-week high of $127.30 set in May 2025.