Louisiana State Employees Retirement System Invests $4.70 Million in Okta, Inc. $OKTA

Louisiana State Employees Retirement System bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, HoldingsChannel reports. The fund bought 47,000 shares of the company’s stock, valued at approximately $4,699,000.

Several other large investors also recently modified their holdings of OKTA. TD Private Client Wealth LLC increased its stake in shares of Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after buying an additional 92 shares during the period. Allworth Financial LP increased its stake in shares of Okta by 5.7% in the first quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after buying an additional 92 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Okta by 12.6% in the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after buying an additional 92 shares during the period. GPS Wealth Strategies Group LLC increased its stake in shares of Okta by 7.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock valued at $156,000 after buying an additional 100 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Okta by 18.9% in the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock valued at $71,000 after buying an additional 108 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent research reports. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday, August 27th. Truist Financial raised Okta from a “hold” rating to a “buy” rating and raised their target price for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Okta in a research note on Wednesday, August 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Okta in a research note on Friday, September 26th. Finally, BMO Capital Markets decreased their target price on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $118.94.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the transaction, the executive owned 7,067 shares of the company’s stock, valued at $706,700. The trade was a 56.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,003 shares of company stock worth $13,769,238 in the last ninety days. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $92.63 on Thursday. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The stock has a 50 day moving average price of $92.11 and a two-hundred day moving average price of $100.21. The stock has a market capitalization of $16.22 billion, a PE ratio of 108.98, a price-to-earnings-growth ratio of 4.46 and a beta of 0.84.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Research analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.