PensionDanmark Pensionsforsikringsaktieselskab Has $2.80 Million Stock Position in Okta, Inc. $OKTA

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 40.1% in the 2nd quarter, Holdings Channel reports. The firm owned 20,492 shares of the company’s stock after buying an additional 5,862 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Okta were worth $2,796,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SHP Wealth Management bought a new position in shares of Okta in the 4th quarter valued at $27,000. Torren Management LLC bought a new stake in shares of Okta during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after buying an additional 218 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Okta in the fourth quarter valued at about $56,000. Finally, Assetmark Inc. boosted its stake in Okta by 81.1% in the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on OKTA shares. The Goldman Sachs Group assumed coverage on Okta in a research note on Monday, July 6th. They set a “buy” rating for the company. KeyCorp lifted their price target on shares of Okta from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Susquehanna upped their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Raymond James Financial downgraded shares of Okta from a “buy” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, UBS Group raised their target price on shares of Okta from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

Okta Stock Performance

NASDAQ:OKTA opened at $148.32 on Monday. The stock has a market cap of $25.78 billion, a P/E ratio of 107.48, a price-to-earnings-growth ratio of 5.33 and a beta of 0.77. The stock’s 50-day moving average is $133.88 and its 200-day moving average is $99.52. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $157.00.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period last year, the company earned $0.86 EPS. The firm’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. As a group, equities analysts forecast that Okta, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 65,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares in the company, valued at $14,032,480. This represents a 35.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction 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 transaction, the director directly owned 9,192 shares of the company’s stock, valued at approximately $781,320. This represents a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 167,847 shares of company stock valued at $22,039,842 over the last quarter. 4.61% of the stock is currently owned by company insiders.

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.