Azzad Asset Management Inc. ADV Invests $650,000 in Okta, Inc. $OKTA

Azzad Asset Management Inc. ADV purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, HoldingsChannel reports. The fund purchased 8,253 shares of the company’s stock, valued at approximately $650,000.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Oppenheimer upped their target price on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Berenberg Bank boosted their price target on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 29th. DA Davidson raised their price objective on shares of Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. KeyCorp lifted their target price on shares of Okta from $130.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.97.

Okta News Summary

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

Insider Buying and Selling

In other news, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 174,224 shares of company stock worth $22,534,353 over the last 90 days. 4.61% of the stock is owned by insiders.

Okta Stock Down 6.9%

NASDAQ OKTA traded down $10.21 on Friday, reaching $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 12-month low of $62.66 and a 12-month high of $153.20. The stock has a fifty day moving average price of $111.25 and a two-hundred day moving average price of $92.00. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 100.46, a P/E/G ratio of 4.99 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share 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 analysts’ expectations of $751.84 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue 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. Sell-side analysts forecast that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

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.