Swedbank AB Acquires 411,200 Shares of Okta, Inc. $OKTA

Swedbank AB grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 483.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 496,324 shares of the company’s stock after buying an additional 411,200 shares during the period. Swedbank AB’s holdings in Okta were worth $52,223,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 92 shares during the period. Allworth Financial LP boosted its holdings 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 purchasing an additional 92 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 92 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings 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 purchasing an additional 100 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Robert W. Baird lowered their price target on Okta from $148.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, August 27th. Citigroup reiterated a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. BMO Capital Markets reduced their price objective on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research note on Wednesday, August 27th. Stifel Nicolaus boosted their price objective on shares of Okta from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Evercore ISI boosted their price objective on shares of Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.25.

Okta Trading Down 1.8%

Shares of OKTA stock opened at $90.34 on Friday. The business’s fifty day simple moving average is $93.45 and its 200-day simple moving average is $101.98. The company has a market cap of $15.82 billion, a PE ratio of 106.28, a PEG ratio of 4.48 and a beta of 0.83. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

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

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at $706,700. This trade represents a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company’s stock.

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.