Strs Ohio Sells 117,006 Shares of Okta, Inc. $OKTA

Strs Ohio lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 96.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,003 shares of the company’s stock after selling 117,006 shares during the quarter. Strs Ohio’s holdings in Okta were worth $315,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. SHP Wealth Management bought a new position in shares of Okta during the 4th quarter valued at about $27,000. Torren Management LLC bought a new stake in shares of Okta in the fourth quarter worth about $32,000. Spire Wealth Management grew its holdings in Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after buying an additional 119 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in shares of Okta during the 4th quarter valued at approximately $52,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: KeyBanc raised its price target on Okta to $175 from $130 and kept an overweight rating, reinforcing the bullish analyst case for the stock. Benzinga report on KeyBanc price target increase
• Positive Sentiment: Another report said Okta could benefit from rising AI-driven cyber threats, which may support demand for its identity and security platform. Zacks cybersecurity stocks article
• Positive Sentiment: Brokerage and media coverage also pointed to strong institutional interest and AI-related security demand as supportive themes for Okta shares. FXEmpire article on AI agent security and Okta
• Neutral Sentiment: Recent hedge-fund and institutional filings show mixed positioning, with several large investors adding to Okta while others reduced exposure, suggesting uneven but still meaningful institutional interest.
• Negative Sentiment: CEO Todd McKinnon sold 68,936 shares worth about $10.1 million, trimming his stake significantly, which can weigh on sentiment even though the trade was pre-planned. SEC Form 4 filing

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKTA. BMO Capital Markets lifted their target price on Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Arete Research set a $127.00 price target on Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. BTIG Research increased their price objective on Okta from $119.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. UBS Group lifted their target price on Okta from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company increased their price target on Okta from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.97.

Okta Price Performance

NASDAQ OKTA traded down $10.21 on Friday, hitting $138.63. The stock had a trading volume of 3,366,806 shares, compared to its average volume of 3,095,824. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $153.20. The business’s fifty day moving average price is $111.25 and its 200 day moving average price is $92.00. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 100.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results 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 net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the prior year, the business posted $0.86 EPS. Okta’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. As a group, sell-side analysts anticipate that Okta, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Schellhase bought 3,712 shares of Okta stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the acquisition, the director directly owned 3,712 shares of the company’s stock, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the sale, the insider directly owned 23,477 shares of the company’s stock, valued at $3,148,970.01. The trade was a 51.54% decrease in their position. 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. In the last 90 days, insiders have sold 174,224 shares of company stock valued at $22,534,353. Insiders own 4.61% of the company’s stock.

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.