South Dakota Investment Council Has $3.75 Million Stock Holdings in Okta, Inc. $OKTA

South Dakota Investment Council boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 43.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 40,906 shares of the company’s stock after buying an additional 12,469 shares during the period. South Dakota Investment Council’s holdings in Okta were worth $3,751,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Root Financial Partners LLC bought a new stake in shares of Okta during the third quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in Okta during the 2nd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in Okta in the 3rd quarter valued at $34,000. Westside Investment Management Inc. grew its holdings in Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. bought a new position in Okta during the 3rd quarter worth $40,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OKTA shares. UBS Group restated a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Citigroup restated a “neutral” rating on shares of Okta in a research report on Monday, January 12th. Barclays lowered their target price on shares of Okta from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research note on Thursday, January 22nd. Finally, Stephens upgraded Okta from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $97.00 to $120.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.50.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the transaction, the chief financial officer owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of Okta stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The SEC filing for this sale provides additional information. Insiders sold a total of 37,245 shares of company stock worth $3,385,624 in the last ninety days. Insiders own 5.68% of the company’s stock.

Okta Stock Performance

Shares of OKTA stock opened at $72.52 on Wednesday. The stock’s fifty day moving average price is $85.73 and its two-hundred day moving average price is $87.62. The company has a market cap of $12.85 billion, a PE ratio of 66.53, a P/E/G ratio of 2.87 and a beta of 0.79. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.Okta’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta announced that its board has authorized a stock buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta expanded its partnership with the PGA of America to deliver AI-powered identity security for golf professionals and fans — a high‑visibility, real‑world use case that highlights Okta’s AI identity momentum. Okta PGA Partnership Puts AI Identity Platform To A Broader Test
• Positive Sentiment: BTIG publicly reaffirmed its buy rating for Okta, signaling continued franchise-level investor support despite mixed headlines. BTIG Sticks to Its Buy Rating for Okta (OKTA)
• Positive Sentiment: Analysts and previews point to AI security as a growth catalyst and suggest Okta could post a solid quarter, supporting upside if management delivers on RPO/revenue and AI traction. Okta poised for solid quarter with analysts pointing to AI as future catalyst
• Neutral Sentiment: Wells Fargo initiated coverage with an Equal Weight (hold) and a $76 price target — a constructive but cautious entry that implies limited near‑term upside from the current level. Okta coverage initiated by Wells Fargo
• Neutral Sentiment: Okta is scheduled to present at an upcoming investor conference — a chance for management to reinforce the AI/security story ahead of earnings. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: Investors are focused on Okta’s Q4 results due March 4; previews expect steady revenue and RPO growth but competition and macro factors remain watch points. Dear Okta Stock Fans, Mark Your Calendars for March 4
• Negative Sentiment: BTIG issued a pessimistic forecast in a separate note and earlier lowered its price target from $116 to $90 — a visible cut that likely pressured sentiment despite the retained buy rating. BTIG Research Issues Pessimistic Forecast for Okta (NASDAQ:OKTA) Stock Price
• Negative Sentiment: Jefferies trimmed its price target to $105 from $125 (while keeping a buy rating), and BMO cut its target to $83 and kept Market Perform — multiple price‑target reductions increase near‑term downside risk and reflect more cautious analyst assumptions. Okta Given New $105.00 Price Target at Jefferies Financial Group BMO Capital Expects Solid Q1 Results for OKTA, Inc. (OKTA) Despite Sector Caution

About Okta

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.