Okta, Inc. $OKTA Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA reduced its position in Okta, Inc. (NASDAQ:OKTA) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,179 shares of the company’s stock after selling 29,216 shares during the period. Union Bancaire Privee UBP SA’s holdings in Okta were worth $10,089,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Okta during the fourth quarter worth about $175,193,000. First Trust Advisors LP lifted its stake in shares of Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Okta by 113.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after purchasing an additional 1,099,962 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Okta by 276.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after purchasing an additional 1,031,083 shares during the last quarter. Finally, Swedbank AB grew its stake in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after purchasing an additional 1,007,915 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Sanford C. Bernstein restated an “outperform” rating and set a $134.00 price objective on shares of Okta in a report on Friday, March 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Canaccord Genuity Group raised their price target on shares of Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Cantor Fitzgerald lifted their price target on shares of Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, Arete Research set a $127.00 price target on shares of Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.97.

Insider Buying and Selling

In other Okta news, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were purchased at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the purchase, the director directly owned 3,712 shares in the company, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their position. 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 90 days, insiders sold 114,074 shares of company stock worth $13,128,242. Company insiders own 4.61% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $124.28 on Friday. The business’s fifty day moving average price is $97.94 and its 200 day moving average price is $88.30. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35. The stock has a market capitalization of $21.60 billion, a PE ratio of 90.06, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping 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 quarter in the previous year, the company posted $0.86 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. 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, research analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

More Okta News

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 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.