Louisiana State Employees Retirement System Buys Shares of 47,000 Okta, Inc. $OKTA

Louisiana State Employees Retirement System bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 47,000 shares of the company’s stock, valued at approximately $4,699,000.

Several other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its stake in Okta by 1.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 102,000 shares of the company’s stock valued at $10,197,000 after acquiring an additional 1,100 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Okta during the 2nd quarter worth approximately $547,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Okta during the 2nd quarter worth approximately $308,000. DAVENPORT & Co LLC increased its position in shares of Okta by 81.5% during the 2nd quarter. DAVENPORT & Co LLC now owns 589,232 shares of the company’s stock worth $58,441,000 after purchasing an additional 264,542 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of Okta by 7.9% during the 2nd quarter. Quent Capital LLC now owns 2,592 shares of the company’s stock worth $259,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKTA. Scotiabank lowered their price target on Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 27th. Barclays boosted their price target on Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Robert W. Baird decreased their target price on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Canaccord Genuity Group upgraded Okta from a “hold” rating to a “buy” rating and increased their price target for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.94.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive directly owned 7,067 shares of the company’s stock, valued at $706,700. This represents a 56.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,003 shares of company stock valued at $13,769,238. Corporate insiders own 5.68% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $92.63 on Thursday. The stock’s fifty day moving average price is $92.11 and its two-hundred day moving average price is $100.21. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 108.98, a P/E/G ratio of 4.46 and a beta of 0.84.

Okta (NASDAQ:OKTA) last issued 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 for the quarter, compared to analyst estimates of $711.84 million. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. 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 anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta Company Profile

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.