Pictet Asset Management Holding SA Purchases 550,328 Shares of Okta, Inc. $OKTA

Pictet Asset Management Holding SA grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,490,681 shares of the company’s stock after acquiring an additional 550,328 shares during the period. Pictet Asset Management Holding SA’s holdings in Okta were worth $195,844,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in OKTA. Elevation Wealth Partners LLC grew its stake in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. SHP Wealth Management acquired a new position in Okta in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new position in shares of Okta during the 4th quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new position in shares of Okta during the 3rd quarter worth approximately $34,000. Finally, Spire Wealth Management grew its position in shares of Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. 86.64% of the stock is owned by institutional investors.

Key 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.

Insider Buying and Selling at Okta

In related news, Director David Schellhase purchased 3,712 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the purchase, the director owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider directly owned 23,477 shares of the company’s stock, valued at $3,148,970.01. This represents a 51.54% 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 114,074 shares of company stock worth $13,128,242. 4.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Okta from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Okta from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $134.00 price target on shares of Okta in a research note on Friday, March 6th. Oppenheimer upped their price objective on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Cantor Fitzgerald increased their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.97.

Okta Stock Performance

Okta stock opened at $124.28 on Monday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 90.06, a price-to-earnings-growth ratio of 4.47 and a beta of 0.80. The firm’s fifty day moving average price is $97.94 and its two-hundred day moving average price is $88.30.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $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. On average, research analysts forecast that Okta, Inc. will post 1.75 EPS for the current year.

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.