Louisiana State Employees Retirement System Purchases New Stake in Okta, Inc. $OKTA

Louisiana State Employees Retirement System purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 49,100 shares of the company’s stock, valued at approximately $3,865,000.

Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Okta by 2.9% in 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. Ameriprise Financial Inc. grew its stake in shares of 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Okta by 113.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after purchasing an additional 1,099,962 shares during the period. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OKTA shares. BTIG Research upped their price target on Okta from $119.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Canaccord Genuity Group upped their target price on Okta from $95.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 29th. Royal Bank Of Canada raised their price target on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, HSBC upgraded shares of Okta to a “buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.97.

Okta Stock Performance

Okta stock opened at $124.28 on Friday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The stock’s 50 day simple moving average is $97.94 and its two-hundred day simple moving average is $88.30. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 90.06, a PEG ratio of 4.47 and a beta of 0.80.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Okta news, Director David Schellhase bought 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, with a total value of $267,412.48. Following the transaction, the director directly owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director directly owned 9,192 shares in the company, valued at $781,320. This represents a 21.38% 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 have sold 114,074 shares of company stock valued at $13,128,242 in the last 90 days. Corporate insiders own 4.61% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $136 from $119 and kept a Buy rating, signaling confidence that shares can still run further after the recent rally.
• Positive Sentiment: Needham also lifted its target to $140 from $120 and reiterated Buy, reinforcing the view that Okta’s AI-related monetization and security platform remain strong growth drivers.
• Positive Sentiment: Okta’s latest quarter beat expectations on both earnings and revenue, with revenue up 11.2% year over year, which continues to support bullish sentiment. Okta earnings and stock information
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a development that could deepen its role in enterprise AI security. Okta expands Cross App Access ecosystem
• Neutral Sentiment: Analyst coverage is mixed overall, with some firms raising targets while others remain cautious, leaving the broader rating picture constructive but not unanimous. Analysts have conflicting sentiments on Okta
• Neutral Sentiment: Shares are drawing attention as a “trending stock,” which can help trading activity but does not change the underlying fundamentals. Okta trending stock coverage
• Neutral Sentiment: Larissa Schwartz sold shares in a pre-arranged 10b5-1 plan, which is routine, though investors often view insider selling cautiously. Larissa Schwartz insider sale
• Negative Sentiment: One Seeking Alpha note downgraded Okta and warned that enthusiasm around “agentic AI” monetization may be overdone, raising the risk of a valuation correction.

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.