Okta, Inc. $OKTA Stake Increased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 97.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,750 shares of the company’s stock after acquiring an additional 39,350 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Okta were worth $6,277,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OKTA. First Trust Advisors LP grew its holdings in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after purchasing an additional 69,653 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Okta by 9.3% in the third quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after purchasing an additional 189,036 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

Shares of Okta stock opened at $141.42 on Monday. The business’s 50 day simple moving average is $104.23 and its 200-day simple moving average is $90.02. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 102.48, a PEG ratio of 5.09 and a beta of 0.77. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $145.95.

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. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter 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. Sell-side analysts predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the subject of several research analyst reports. Scotiabank boosted their price objective on Okta from $105.00 to $135.00 and gave the company a “sector perform” rating in a report on Monday, June 29th. KeyCorp lifted their target price on Okta from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen downgraded Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Raymond James Financial upgraded Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Okta has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Activity at Okta

In other news, Director David Schellhase purchased 3,712 shares of the stock in a transaction dated Thursday, April 16th. The stock was acquired at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the transaction, the director owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. The trade was a ∞ increase in their ownership of the stock. The purchase 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 the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares in the company, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 111,665 shares of company stock valued at $12,935,522. Company insiders own 4.61% of the company’s stock.

Okta Company 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.