Okta, Inc. $OKTA Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 381,546 shares of the company’s stock after acquiring an additional 41,162 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Okta worth $33,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Okta by 52.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after acquiring an additional 161,069 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Okta in the 4th quarter worth $3,122,000. Elo Mutual Pension Insurance Co raised its position in shares of Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after purchasing an additional 15,058 shares during the period. Swedbank AB raised its position in shares of Okta by 124.3% during the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after purchasing an additional 1,007,915 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in shares of Okta by 23.0% during the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after purchasing an additional 18,325 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 1.9%

Shares of NASDAQ OKTA opened at $118.16 on Wednesday. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The business has a 50-day moving average price of $94.64 and a two-hundred day moving average price of $87.58. The firm 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 quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Research analysts anticipate that Okta, Inc. will post 1.74 EPS for the current year.

Analyst Ratings Changes

OKTA has been the subject of a number of recent analyst reports. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Okta in a research note on Friday, May 29th. KeyCorp raised their target price on shares of Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Okta from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Finally, BMO Capital Markets boosted their price target on shares of Okta from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.14.

Insiders Place Their Bets

In other news, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction on Monday, May 18th. The shares were 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 of the company’s stock, valued at approximately $781,320. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. The trade was a 35.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 111,611 shares of company stock valued at $12,832,682 in the last three months. Company insiders own 4.61% of the company’s stock.

Key Okta News

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

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.