Norges Bank Takes $175.19 Million Position in Okta, Inc. $OKTA

Norges Bank bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,026,053 shares of the company’s stock, valued at approximately $175,193,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of Okta in the fourth quarter valued at $3,122,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Okta by 74.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 33,235 shares of the company’s stock valued at $2,874,000 after purchasing an additional 14,138 shares during the period. Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Okta by 19.8% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 37,575 shares of the company’s stock valued at $3,249,000 after purchasing an additional 6,200 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Okta by 2,982.2% in the fourth quarter. Jupiter Asset Management Ltd. now owns 514,449 shares of the company’s stock valued at $44,484,000 after purchasing an additional 497,758 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Okta by 0.4% in the fourth quarter. Huntington National Bank now owns 80,727 shares of the company’s stock valued at $6,980,000 after purchasing an additional 326 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $124.65 on Thursday. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 90.33, a price-to-earnings-growth ratio of 5.26 and a beta of 0.80. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35. The company’s fifty day moving average is $83.09 and its two-hundred day moving average is $83.98.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. 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 expect that Okta, Inc. will post 1.62 EPS for the current fiscal year.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total value of $1,812,818.16. Following the sale, the executive owned 4,364 shares of the company’s stock, valued at $339,475.56. This trade represents a 84.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shellye L. Archambeau sold 2,500 shares of the 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 approximately $781,320. This trade represents a 21.38% 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 sold 70,884 shares of company stock valued at $5,625,648 in the last ninety days. 4.61% of the stock is owned by insiders.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat first-quarter expectations with revenue of $765 million, and investors are cheering its growing role in AI identity security, including demand tied to AI agents and higher guidance. Okta (OKTA) Stock Soars 30% on Earnings — AI Identity Boom Fuels Rally
• Positive Sentiment: Several commentary pieces say Okta’s AI strategy is gaining traction, with bulls arguing the company is benefiting from the broader belief that AI will increase cybersecurity demand rather than reduce it. Our Okta Stock Pick is Up 63%. Why We See More Upside Ahead.
• Positive Sentiment: Okta’s stock has had strong recent momentum, with multiple articles pointing to a large year-to-date gain and renewed investor enthusiasm around the company’s turnaround story. Why Okta Is One of the Hottest AI-Driven Stocks to Buy Now
• Neutral Sentiment: Okta’s president and COO has been highlighting how companies must redesign work for the AI era, reinforcing the company’s strategic narrative but not changing fundamentals on its own. Okta’s President and COO says companies are in denial about the hardest part of the AI revolution: redesigning work itself
• Negative Sentiment: Mizuho downgraded Okta (NASDAQ: OKTA) to Neutral from Outperform, saying the stock’s recent surge has already priced in much of the upside from its AI opportunity. Okta’s AI dream fuels massive rally, but Mizuho says upside is already priced in
• Negative Sentiment: That downgrade also pressured shares earlier this week, with valuation concerns suggesting the rally may have run ahead of near-term fundamentals. Okta Stock Tumbles after Top Mizuho Analyst Downgrades Rating on Valuation Concerns

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OKTA shares. BMO Capital Markets upped their price target on shares of Okta from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Stephens cut their price target on shares of Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Jefferies Financial Group upped their price target on shares of Okta from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 29th. Stifel Nicolaus cut their price target on shares of Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, Mizuho cut shares of Okta from an “outperform” rating to a “neutral” rating and upped their price target for the company from $110.00 to $125.00 in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $112.29.

Okta 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.