BI Asset Management Fondsmaeglerselskab A S Buys 6,481 Shares of Okta, Inc. $OKTA

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 30.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,631 shares of the company’s stock after acquiring an additional 6,481 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Okta were worth $2,175,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Elevation Wealth Partners LLC raised its holdings in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the period. SHP Wealth Management acquired a new position in shares of Okta in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new position in shares of Okta during the fourth quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new position in shares of Okta during the third quarter worth approximately $34,000. Finally, Spire Wealth Management increased its stake in shares of Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 3,977 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider owned 23,477 shares of the company’s stock, valued at approximately $3,148,970.01. The trade was a 51.54% 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. Insiders sold 111,611 shares of company stock valued at $12,832,682 over the last 90 days. 4.61% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
• Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details

Analysts Set New Price Targets

Several analysts recently issued reports on OKTA shares. The Goldman Sachs Group restated a “buy” rating and issued a $126.00 price target on shares of Okta in a research note on Friday, May 29th. Weiss Ratings upgraded Okta from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein reissued an “outperform” rating and set a $134.00 target price on shares of Okta in a report on Friday, March 6th. Oppenheimer boosted their target price on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Zacks Research cut shares of Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $114.14.

Okta Price Performance

NASDAQ OKTA opened at $118.16 on Wednesday. The business has a fifty day moving average price of $94.64 and a two-hundred day moving average price of $87.58. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The stock has a market capitalization of $20.54 billion, a PE ratio of 85.62, a PEG ratio of 4.20 and a beta of 0.80.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping 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 net margin of 8.24% and a return on equity of 4.15%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, sell-side analysts expect that Okta, Inc. will post 1.74 earnings per share for the current year.

About Okta

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.