49,100 Shares in Okta, Inc. $OKTA Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 49,100 shares of the company’s stock, valued at approximately $3,865,000.

Other hedge funds have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after buying an additional 264 shares in the last quarter. SHP Wealth Management purchased a new position in Okta during the fourth quarter valued at approximately $27,000. Torren Management LLC purchased a new position in Okta during the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd bought a new stake in Okta during the 3rd quarter worth approximately $34,000. Finally, Spire Wealth Management lifted its stake in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $124.28 on Friday. The firm has a market capitalization of $21.60 billion, a PE ratio of 90.06, a price-to-earnings-growth ratio of 4.47 and a beta of 0.80. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $142.35. The firm has a fifty day moving average of $97.94 and a 200 day moving average of $88.30.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 4.15% and a net margin of 8.24%.The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. 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, sell-side analysts forecast that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the sale, the chief financial officer owned 119,680 shares of the company’s stock, valued at $14,032,480. This represents a 35.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 114,074 shares of company stock valued at $13,128,242. Insiders own 4.61% of the company’s stock.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $136 from $119 and kept a Buy rating, signaling confidence that shares can still run further after the recent rally.
• Positive Sentiment: Needham also lifted its target to $140 from $120 and reiterated Buy, reinforcing the view that Okta’s AI-related monetization and security platform remain strong growth drivers.
• Positive Sentiment: Okta’s latest quarter beat expectations on both earnings and revenue, with revenue up 11.2% year over year, which continues to support bullish sentiment. Okta earnings and stock information
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a development that could deepen its role in enterprise AI security. Okta expands Cross App Access ecosystem
• Neutral Sentiment: Analyst coverage is mixed overall, with some firms raising targets while others remain cautious, leaving the broader rating picture constructive but not unanimous. Analysts have conflicting sentiments on Okta
• Neutral Sentiment: Shares are drawing attention as a “trending stock,” which can help trading activity but does not change the underlying fundamentals. Okta trending stock coverage
• Neutral Sentiment: Larissa Schwartz sold shares in a pre-arranged 10b5-1 plan, which is routine, though investors often view insider selling cautiously. Larissa Schwartz insider sale
• Negative Sentiment: One Seeking Alpha note downgraded Okta and warned that enthusiasm around “agentic AI” monetization may be overdone, raising the risk of a valuation correction.

Wall Street Analyst Weigh In

Several brokerages have commented on OKTA. Stephens cut their price target on shares of Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Weiss Ratings upgraded Okta from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Piper Sandler lifted their price objective on Okta from $82.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Royal Bank Of Canada boosted their target price on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Seaport Research Partners lowered Okta to a “neutral” rating in a research note on Thursday, April 16th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.97.

Okta Company 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.