16,270 Okta, Inc. $OKTA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Okta, Inc. (NASDAQ:OKTA) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 329,322 shares of the company’s stock after selling 16,270 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Okta were worth $68,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Okta in the 3rd quarter valued at $13,167,000. Vise Technologies Inc. grew its position in Okta by 108.8% during the 3rd quarter. Vise Technologies Inc. now owns 3,917 shares of the company’s stock worth $819,000 after purchasing an additional 2,041 shares during the period. MGO One Seven LLC raised its stake in shares of Okta by 3.9% during the 3rd quarter. MGO One Seven LLC now owns 1,614 shares of the company’s stock valued at $338,000 after buying an additional 60 shares during the last quarter. Left Brain Wealth Management LLC purchased a new position in shares of Okta during the 3rd quarter valued at about $435,000. Finally, State of Wyoming acquired a new position in shares of Okta in the 3rd quarter valued at about $100,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OKTA shares. Canaccord Genuity Group upped their target price on Okta from $115.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Morgan Stanley lifted their price target on Okta from $200.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, September 29th. JPMorgan Chase & Co. boosted their price target on Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. BTIG Research restated a “buy” rating and issued a $219.00 price objective on shares of Okta in a research report on Thursday, September 24th. Finally, Susquehanna raised their price objective on shares of Okta from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.38.

Insider Transactions at Okta

In related news, insider Eric Kelleher sold 6,395 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is currently owned by insiders.

Okta Stock Up 2.6%

NASDAQ OKTA opened at $189.68 on Wednesday. The business’s fifty day simple moving average is $194.95 and its 200-day simple moving average is $125.61. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $235.00. The firm has a market cap of $33.16 billion, a PE ratio of 114.27, a P/E/G ratio of 5.75 and a beta of 0.74.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Research analysts expect that Okta, Inc. will post 1.92 EPS for the current year.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: S&P 500 inclusion could bring buying demand. Okta is set to replace Kenvue in the index on Nov. 4, prompting index funds and other passive investors to adjust holdings. The prospect of that demand has helped lift sentiment, although some of the buying may already be reflected in the share price. Article: Dear Okta Stock Fans, Mark Your Calendars for November 4
• Positive Sentiment: Broker coverage is presented as supportive. A Zacks article says broker recommendations suggest investing in OKTA, which may bolster sentiment, though analyst ratings are not a guarantee of future performance. Article: Brokers Suggest Investing in Okta
• Neutral Sentiment: Citi maintained a Hold rating and $215 price target. The analyst said the impact of the DHS incident appears contained, a reassuring assessment tempered by the unchanged Hold recommendation. Article: Okta Maintains $215 Price Target
• Neutral Sentiment: Third-quarter results are scheduled for Dec. 1. The date gives investors a coming checkpoint on Okta’s performance, but the announcement itself does not provide new financial results or guidance. Article: Okta to Announce Third Quarter Fiscal Year 2027 Financial Results
• Negative Sentiment: Recent trading has been volatile. Okta fell sharply in the prior session before the reported rebound; the cited coverage does not identify a specific company development behind that decline. Article: Okta Registers a Bigger Fall Than the Market

Okta Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.