Allspring Global Investments Holdings LLC Grows Stock Holdings in Okta, Inc. $OKTA

Allspring Global Investments Holdings LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 71.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,553,091 shares of the company’s stock after buying an additional 1,485,963 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.01% of Okta worth $281,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Elevation Wealth Partners LLC grew its holdings in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares in the last quarter. SHP Wealth Management purchased a new position in Okta in the 4th quarter valued at approximately $27,000. Torren Management LLC acquired a new position in shares of Okta in the fourth quarter worth $32,000. Spire Wealth Management grew its stake in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Okta during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Capital One upgraded Okta (OKTA), which can signal improving Wall Street confidence in the company’s outlook and help support the stock. Palo Alto Networks, Okta upgraded at Capital One
• Positive Sentiment: Okta won partner recognition tied to its identity security push in cloud and AI, reinforcing its growth narrative in high-demand enterprise security markets. Okta (OKTA) Wins Partner Recognition For Identity Security Push In Cloud And AI
• Positive Sentiment: Okta was highlighted in broader cybersecurity coverage as a beneficiary of rising AI-driven security demand and increased enterprise spending on cyber defense. Cybersecurity Space is Buzzing on Recent Catalysts: 3 Top Picks
• Positive Sentiment: Okta also appeared in an article favoring cybersecurity stocks as AI changes tech defense, suggesting the company remains a relevant long-term play in a favored sector. Top Cybersecurity Stocks to Buy Now as AI Changes Tech Defense
• Neutral Sentiment: Okta was mentioned among stocks moving after an IBM warning, but the headline appears to reflect sector rotation rather than a company-specific problem. Dell, HP Enterprise, and Okta are among the group seeing gains after IBM warning
• Negative Sentiment: One market note said Okta may be fully priced after a 114% three-year run, which could temper enthusiasm if investors worry the upside is already reflected in the valuation. Okta (OKTA) Stock May Be Fully Priced Following Its 114% Run

Analysts Set New Price Targets

Several analysts have recently issued reports on OKTA shares. Mizuho cut Okta from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Okta in a research note on Friday, May 29th. Cantor Fitzgerald upped their price target on Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Morgan Stanley initiated coverage on Okta in a research report on Monday, July 6th. They issued a “neutral” rating on the stock. Finally, Arete Research set a $127.00 price objective on Okta and gave the company a “buy” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Insider Activity

In related news, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 23,477 shares in the company, valued at $3,148,970.01. This trade represents a 51.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction that occurred on 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. This trade represents a 21.38% 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 have sold a total of 174,224 shares of company stock worth $22,534,353 over the last ninety days. 4.61% of the stock is owned by corporate insiders.

Okta Price Performance

NASDAQ OKTA opened at $147.74 on Friday. The firm’s fifty day moving average price is $116.91 and its 200 day moving average price is $93.68. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $157.00. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 107.06, a price-to-earnings-growth ratio of 5.43 and a beta of 0.77.

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 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 company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% on a year-over-year basis. 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 forecast that Okta, Inc. will post 1.75 earnings per share for the current year.

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.