Erste Asset Management GmbH Purchases 11,700 Shares of Okta, Inc. $OKTA

Erste Asset Management GmbH grew its stake in Okta, Inc. (NASDAQ:OKTA) by 403.6% during the 4th quarter, HoldingsChannel reports. The firm owned 14,599 shares of the company’s stock after acquiring an additional 11,700 shares during the quarter. Erste Asset Management GmbH’s holdings in Okta were worth $1,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Okta in the 1st quarter valued at $225,000. NewEdge Advisors LLC raised its position in Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after purchasing an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Okta in the 2nd quarter valued at $244,000. Invesco Ltd. raised its position in Okta by 34.1% in the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after purchasing an additional 893 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OKTA has been the topic of several research reports. HSBC raised Okta to a “buy” rating in a report on Thursday, April 16th. Susquehanna upped their price objective on Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. DA Davidson upped their price objective on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, April 16th. Finally, Stifel Nicolaus cut their price target on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $114.14.

Insider Buying and Selling at Okta

In other Okta news, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average price of $72.04 per share, with a total value of $267,412.48. Following the purchase, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ? increase in their position. The purchase was disclosed in a filing 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, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares in the company, valued at $14,032,480. The trade was a 35.20% decrease in their position. 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 a total of 159,019 shares of company stock worth $16,449,580 in the last three months. 4.61% of the stock is owned by insiders.

Okta Stock Down 4.2%

OKTA stock opened at $114.92 on Thursday. The business’s fifty day moving average is $87.31 and its 200-day moving average is $85.31. The company has a market cap of $19.97 billion, a P/E ratio of 83.28, a price-to-earnings-growth ratio of 4.35 and a beta of 0.80. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $142.35.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results 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. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. Research analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s latest update showed revenue and earnings above expectations, and management raised full-year guidance, reinforcing the company’s growth story and helping support the stock. Okta (OKTA) Valuation In Focus After Earnings Beat And Raised Full Year Guidance
• Positive Sentiment: Analysts highlighted Okta’s strong backlog and AI identity opportunity, with remaining performance obligations reaching $4.72 billion, which points to healthy demand visibility. OKTA’s Strong Backlog and AI Opportunity Drive Growth: What’s Ahead?
• Neutral Sentiment: Market commentary suggests the bullish earnings and AI narrative is being offset by debate over whether Okta’s valuation already reflects much of the upside. How The Okta (OKTA) Narrative Is Shifting With AI Hopes And Valuation Concerns
• Negative Sentiment: Okta CFO Brett Tighe sold 65,000 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a trading plan. SEC filing for insider transaction
• Negative Sentiment: Recent coverage also points to renewed short-term pressure and volatility in cybersecurity stocks, suggesting traders may be taking profits after the post-earnings move higher.

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.