Erste Asset Management GmbH Boosts Stake in Okta, Inc. $OKTA

Erste Asset Management GmbH raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 403.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,599 shares of the company’s stock after acquiring an additional 11,700 shares during the period. Erste Asset Management GmbH’s holdings in Okta were worth $1,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in Okta by 40.1% in the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after purchasing an additional 15,058 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Okta during the 4th quarter worth approximately $3,122,000. Finally, Congress Asset Management Co. lifted its holdings in Okta by 23.0% during the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock worth $8,480,000 after buying an additional 18,325 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the transaction, the director directly owned 9,192 shares in the company, valued at approximately $781,320. The trade was a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the transaction, the chief financial officer owned 119,680 shares in the company, valued at $14,032,480. The trade was a 35.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 159,019 shares of company stock valued at $16,449,580. 4.61% of the stock is owned by corporate insiders.

Okta Trading Down 4.2%

Shares of OKTA stock opened at $114.92 on Thursday. The stock’s fifty day simple moving average is $87.31 and its 200-day simple moving average is $85.31. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 83.28, a P/E/G ratio of 4.35 and a beta of 0.80. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, sell-side analysts predict that Okta, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OKTA shares. Scotiabank increased their target price on Okta from $80.00 to $105.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. TD Cowen lowered their target price on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday, February 24th. Needham & Company LLC raised their target price on Okta from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 29th. UBS Group raised their target price on Okta from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley raised their target price on Okta from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.14.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s latest update showed revenue and earnings above expectations, and management raised full-year guidance, reinforcing the company’s growth story and helping support the stock. Okta (OKTA) Valuation In Focus After Earnings Beat And Raised Full Year Guidance
• Positive Sentiment: Analysts highlighted Okta’s strong backlog and AI identity opportunity, with remaining performance obligations reaching $4.72 billion, which points to healthy demand visibility. OKTA’s Strong Backlog and AI Opportunity Drive Growth: What’s Ahead?
• Neutral Sentiment: Market commentary suggests the bullish earnings and AI narrative is being offset by debate over whether Okta’s valuation already reflects much of the upside. How The Okta (OKTA) Narrative Is Shifting With AI Hopes And Valuation Concerns
• Negative Sentiment: Okta CFO Brett Tighe sold 65,000 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a trading plan. SEC filing for insider transaction
• Negative Sentiment: Recent coverage also points to renewed short-term pressure and volatility in cybersecurity stocks, suggesting traders may be taking profits after the post-earnings move higher.

Okta Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.