Pictet Asset Management Holding SA Has $195.84 Million Holdings in Okta, Inc. $OKTA

Pictet Asset Management Holding SA raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 28.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,490,681 shares of the company’s stock after acquiring an additional 550,328 shares during the period. Pictet Asset Management Holding SA owned about 1.41% of Okta worth $195,844,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the last quarter. Geode Capital Management LLC lifted its stake in Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Okta by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after buying an additional 69,653 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Okta by 9.3% in the third quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock valued at $204,162,000 after buying an additional 189,036 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 113.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after buying an additional 1,099,962 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta News Roundup

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.

Okta Price Performance

Shares of Okta stock opened at $124.28 on Monday. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 90.06, a P/E/G ratio of 4.47 and a beta of 0.80. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $142.35. The company’s fifty day moving average is $97.94 and its 200 day moving average is $88.30.

Okta (NASDAQ:OKTA) last announced its 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 business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Okta

In related news, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the sale, the director directly owned 9,192 shares in the company, valued at $781,320. This represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at $14,032,480. This represents a 35.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 114,074 shares of company stock valued at $13,128,242 over the last ninety days. Insiders own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKTA shares. Oppenheimer increased their price target on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Needham & Company LLC boosted their price objective on Okta from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Citigroup reaffirmed an “outperform” rating on shares of Okta in a report on Friday, May 29th. Wolfe Research began coverage on Okta in a research report on Thursday, April 16th. They issued an “outperform” rating for the company. Finally, Arete Research set a $127.00 price target on Okta and gave the company a “buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.