Federated Hermes Inc. Buys 111,153 Shares of Okta, Inc. $OKTA

Federated Hermes Inc. boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 95.9% during the second quarter, Holdings Channel reports. The institutional investor owned 227,110 shares of the company’s stock after buying an additional 111,153 shares during the period. Federated Hermes Inc.’s holdings in Okta were worth $22,704,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of OKTA. Norges Bank bought a new stake in shares of Okta during the second quarter worth approximately $211,923,000. Alkeon Capital Management LLC acquired a new stake in Okta during the 1st quarter worth approximately $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after purchasing an additional 1,189,222 shares during the period. Ninety One UK Ltd grew its holdings in Okta by 52.1% in the 2nd quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock valued at $274,370,000 after buying an additional 939,589 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Okta by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock valued at $1,872,263,000 after buying an additional 935,364 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OKTA shares. Barclays lowered their price target on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 18th. UBS Group reaffirmed a “buy” rating on shares of Okta in a report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. BMO Capital Markets reduced their price target on Okta from $112.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $115.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.91.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 6,091 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 8,522 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total value of $789,307.64. Following the completion of the transaction, the insider owned 9,174 shares of the company’s stock, valued at $849,695.88. The trade was a 48.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 66,293 shares of company stock worth $6,124,092 over the last 90 days. 5.68% of the stock is owned by corporate insiders.

Okta Stock Up 0.6%

Shares of OKTA stock opened at $87.79 on Wednesday. The business has a fifty day simple moving average of $86.57 and a 200 day simple moving average of $92.75. The company has a market cap of $15.37 billion, a P/E ratio of 80.54, a P/E/G ratio of 4.12 and a beta of 0.77. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.