Norges Bank Makes New $175.19 Million Investment in Okta, Inc. $OKTA

Norges Bank bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,026,053 shares of the company’s stock, valued at approximately $175,193,000. Norges Bank owned about 1.14% of Okta at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. Torren Management LLC acquired a new position in shares of Okta in the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Okta in the third quarter valued at approximately $34,000. Westside Investment Management Inc. raised its position in shares of Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Okta stock opened at $124.65 on Thursday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The firm has a 50 day moving average price of $83.09 and a 200 day moving average price of $83.98. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 90.33, a PEG ratio of 5.26 and a beta of 0.80.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the firm earned $0.86 earnings per share. Okta’s revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts predict that Okta, Inc. will post 1.62 EPS for the current year.

Insider Transactions at Okta

In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director directly owned 9,192 shares in the company, valued at $781,320. The trade was a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were acquired at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the purchase, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 70,884 shares of company stock valued at $5,625,648 in the last quarter. Insiders own 4.61% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat first-quarter expectations with revenue of $765 million, and investors are cheering its growing role in AI identity security, including demand tied to AI agents and higher guidance. Okta (OKTA) Stock Soars 30% on Earnings — AI Identity Boom Fuels Rally
• Positive Sentiment: Several commentary pieces say Okta’s AI strategy is gaining traction, with bulls arguing the company is benefiting from the broader belief that AI will increase cybersecurity demand rather than reduce it. Our Okta Stock Pick is Up 63%. Why We See More Upside Ahead.
• Positive Sentiment: Okta’s stock has had strong recent momentum, with multiple articles pointing to a large year-to-date gain and renewed investor enthusiasm around the company’s turnaround story. Why Okta Is One of the Hottest AI-Driven Stocks to Buy Now
• Neutral Sentiment: Okta’s president and COO has been highlighting how companies must redesign work for the AI era, reinforcing the company’s strategic narrative but not changing fundamentals on its own. Okta’s President and COO says companies are in denial about the hardest part of the AI revolution: redesigning work itself
• Negative Sentiment: Mizuho downgraded Okta (NASDAQ: OKTA) to Neutral from Outperform, saying the stock’s recent surge has already priced in much of the upside from its AI opportunity. Okta’s AI dream fuels massive rally, but Mizuho says upside is already priced in
• Negative Sentiment: That downgrade also pressured shares earlier this week, with valuation concerns suggesting the rally may have run ahead of near-term fundamentals. Okta Stock Tumbles after Top Mizuho Analyst Downgrades Rating on Valuation Concerns

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of Okta from $80.00 to $105.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. Truist Financial boosted their price objective on shares of Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research report on Friday, May 29th. Mizuho lowered shares of Okta from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Tuesday. Finally, DA Davidson boosted their price objective on shares of Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $112.29.

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.