Okta, Inc. $OKTA Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 974,376 shares of the company’s stock after selling 34,471 shares during the quarter. Legal & General Group Plc’s holdings in Okta were worth $84,254,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC acquired a new position in Okta in the first quarter valued at $225,000. NewEdge Advisors LLC boosted its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Okta in the second quarter valued at $244,000. Invesco Ltd. boosted its stake in Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after acquiring an additional 109,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Okta by 122.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after acquiring an additional 893 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the transaction, the executive directly owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 16,818 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the completion of the transaction, the insider directly owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This trade represents a 52.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,884 shares of company stock valued at $5,625,648 in the last 90 days. 4.61% of the stock is owned by corporate insiders.

Okta Stock Up 30.1%

NASDAQ OKTA opened at $123.27 on Friday. The stock has a market capitalization of $21.80 billion, a P/E ratio of 89.33, a P/E/G ratio of 3.69 and a beta of 0.59. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $124.79. The firm has a 50-day moving average price of $79.90 and a 200 day moving average price of $82.97.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.16%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company 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, equities research analysts expect that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OKTA shares. Stifel Nicolaus decreased their price objective on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group restated a “buy” rating and issued a $126.00 price objective on shares of Okta in a research note on Friday. Susquehanna upped their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday. DA Davidson upped their price objective on shares of Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, KeyCorp upped their price objective on shares of Okta from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.86.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat consensus on both revenue and earnings, reporting $765 million in revenue and $0.91 EPS, while also raising full-year and next-quarter guidance above expectations. Article Title
• Positive Sentiment: Management highlighted accelerating demand for identity tools tied to AI agents, suggesting a new growth tailwind for Okta’s security platform. Article Title
• Positive Sentiment: A broad list of brokerages raised price targets after the report, including JPMorgan, Barclays, Morgan Stanley, BTIG, Needham, BMO, Truist, RBC, and others, reinforcing the bullish post-earnings setup. Article Title
• Positive Sentiment: Multiple reports said investors are rethinking the “SaaSpocalypse” narrative, with software stocks rebounding sharply as Okta’s results showed resilient demand and improving execution. Article Title

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.