California State Teachers Retirement System Lowers Stake in Okta, Inc. $OKTA

California State Teachers Retirement System reduced its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 1.4% in the first quarter, HoldingsChannel.com reports. The fund owned 261,827 shares of the company’s stock after selling 3,702 shares during the quarter. California State Teachers Retirement System’s holdings in Okta were worth $20,608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new stake in Okta during the fourth quarter valued at about $27,000. Torren Management LLC purchased a new position in shares of Okta in the 4th quarter worth about $32,000. Spire Wealth Management boosted its holdings in shares of 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. V Square Quantitative Management LLC purchased a new position in shares of Okta in the 4th quarter worth about $56,000. Finally, Assetmark Inc. increased its position in shares of Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 24,971 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the completion of the transaction, the insider directly owned 23,477 shares of the company’s stock, valued at approximately $3,148,970.01. This represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the transaction, the director directly owned 9,192 shares of the company’s stock, valued at approximately $781,320. This trade represents a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 174,224 shares of company stock valued at $22,534,353. Company insiders own 4.61% of the company’s stock.

Okta Stock Up 1.1%

Shares of NASDAQ OKTA opened at $141.93 on Friday. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $157.00. The firm’s fifty day moving average is $129.18 and its 200 day moving average is $97.60. The company has a market cap of $24.67 billion, a price-to-earnings ratio of 102.85, a PEG ratio of 5.10 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $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. Equities research analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current year.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Strategic expansion into AI and cloud identity security: Permiso’s behavioral analytics, identity-risk signals and threat-detection capabilities should strengthen Okta’s identity management platform as businesses deploy more autonomous AI agents and other non-human identities across multi-cloud environments. Okta buys AI security startup Permiso
• Positive Sentiment: Potential to broaden Okta’s growth opportunity: The acquisition adds identity threat detection and response to Okta’s existing platform, potentially increasing its value to enterprise customers seeking unified protection for users, workloads and AI agents. The deal is expected to close in the third quarter. Okta Inks Permiso Purchase
• Neutral Sentiment: Reported acquisition price: Sources put the transaction value at approximately $200 million. The strategic rationale is favorable, but Okta has not publicly detailed the deal’s financial terms, expected revenue contribution or impact on guidance. Okta to acquire Permiso Security in reported $200M deal
• Negative Sentiment: Execution and valuation risks remain: Okta will need to integrate Permiso’s technology and retain its talent while demonstrating that the purchase can generate meaningful growth. With the stock trading at a high earnings valuation and near its recent high, investors may expect strong execution from the acquisition.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Okta from $93.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Truist Financial increased their price target 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. Capital One Financial set a $171.00 price target on shares of Okta and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Berenberg Bank lifted their price target on shares of Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, Citigroup restated an “outperform” rating on shares of Okta in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

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.