South Dakota Investment Council Has $3.76 Million Stock Holdings in Okta, Inc. $OKTA

South Dakota Investment Council lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 11.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,783 shares of the company’s stock after buying an additional 4,777 shares during the quarter. South Dakota Investment Council’s holdings in Okta were worth $3,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OKTA. SHP Wealth Management acquired a new position in shares of Okta in the fourth quarter valued at about $27,000. Torren Management LLC bought a new position in Okta during the fourth quarter worth about $32,000. Spire Wealth Management raised its stake in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Okta in the 4th quarter worth about $56,000. Finally, Assetmark Inc. boosted its holdings in Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Expanded identity-threat platform: Okta plans to integrate Permiso’s identity-risk signals, behavioral analytics and threat-detection technology into its identity-management platform. The acquisition could strengthen Okta’s ability to detect and respond to compromised human, machine and AI-agent identities. Okta Inks Permiso Purchase to Expand Identity Threat Defense
• Positive Sentiment: Exposure to AI-security demand: Permiso’s capabilities address enterprises’ growing need to secure AI agents and other non-human identities operating across cloud environments. Investors may view the transaction as a way for Okta to capture additional long-term growth as autonomous software adoption expands. Okta buys AI security startup Permiso
• Neutral Sentiment: Transaction details remain limited: The acquisition is expected to close in the third quarter, while a report citing a source puts the purchase price at approximately $200 million. Okta has not publicly disclosed full financial terms, so investors will monitor the deal’s effect on expenses, growth and profitability. Okta buys AI security startup Permiso
• Positive Sentiment: Recent operating momentum supports sentiment: Okta’s latest reported quarter exceeded analyst expectations for earnings and revenue, with revenue up 11.2% year over year. That performance provides a supportive backdrop for the Permiso announcement, although the stock’s elevated valuation leaves less room for execution disappointments.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of analyst reports. Barclays increased their target price on shares of Okta from $93.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. KeyCorp boosted their price target on Okta from $130.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Weiss Ratings raised Okta from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Piper Sandler raised their price objective on Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Mizuho cut Okta from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $110.00 to $125.00 in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.81.

Okta Trading Up 2.6%

Shares of NASDAQ:OKTA opened at $140.42 on Friday. The firm has a 50 day moving average of $128.19 and a 200-day moving average of $97.28. The stock has a market capitalization of $24.41 billion, a PE ratio of 101.75, a PEG ratio of 4.92 and a beta of 0.77. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $157.00.

Okta (NASDAQ:OKTA) last issued its quarterly 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 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, research analysts predict that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the transaction, the insider owned 25,241 shares in the company, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their position. The sale 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, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This trade represents a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 174,224 shares of company stock valued at $22,534,353. Corporate insiders own 4.61% of the company’s stock.

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.