California Public Employees Retirement System Has $22.95 Million Position in Okta, Inc. $OKTA

California Public Employees Retirement System lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,645 shares of the company’s stock after selling 5,813 shares during the quarter. California Public Employees Retirement System’s holdings in Okta were worth $22,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Robeco Institutional Asset Management B.V. grew its position in shares of Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Okta during the 4th quarter worth about $3,122,000. Swedbank AB boosted its stake in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after purchasing an additional 1,007,915 shares during the period. Diversify Wealth Management LLC bought a new stake in Okta during the 1st quarter valued at approximately $2,077,000. Finally, Torque Asset Management LLC grew its holdings in Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after buying an additional 83,337 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is being highlighted by multiple outlets as a strong momentum stock, suggesting investor interest remains high despite the pullback. Article Title
• Positive Sentiment: Analysts continue to point to Okta as a beneficiary of rising enterprise AI adoption, which is supporting demand for cybersecurity, identity protection, and zero-trust tools. Article Title
• Positive Sentiment: Recent commentary around the AI era of cybersecurity, including the OpenAI hack discussion, reinforces the broader theme that spending on security may rise alongside AI investment. Article Title
• Neutral Sentiment: Okta remains one of the more widely watched stocks on Zacks, and that attention may help keep trading volume and volatility elevated. Article Title
• Negative Sentiment: The recent drop appears tied to no fresh negative company announcement, making the move more consistent with a post-rally cooling-off period and broader software-sector caution. Article Title
• Negative Sentiment: Some market participants are also worried that enterprise tech budgets could shift toward AI infrastructure, which may weigh on software spending expectations across the sector. Article Title

Okta Price Performance

Shares of OKTA stock opened at $136.69 on Thursday. The stock has a market cap of $23.76 billion, a P/E ratio of 99.05, a price-to-earnings-growth ratio of 5.10 and a beta of 0.77. Okta, Inc. has a one year low of $62.66 and a one year high of $157.00. The stock has a fifty day moving average price of $121.98 and a 200 day moving average price of $95.28.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results 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 firm had revenue of $765.00 million for 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% 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. Equities research analysts anticipate that Okta, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wolfe Research started coverage on shares of Okta in a research note on Thursday, April 16th. They issued an “outperform” rating on the stock. Zacks Research lowered shares of Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Scotiabank upgraded shares of Okta from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $135.00 to $165.00 in a research note on Monday, July 6th. Finally, Arete Research set a $127.00 price target on shares of Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.81.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares in the company, valued at $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the sale, the insider directly owned 25,241 shares in the company, valued at $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock worth $22,534,353 in the last 90 days. 4.61% of the stock is currently owned by insiders.

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.