Hsbc Holdings PLC Has $33.04 Million Stake in Okta, Inc. $OKTA

Hsbc Holdings PLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,546 shares of the company’s stock after buying an additional 41,162 shares during the period. Hsbc Holdings PLC’s holdings in Okta were worth $33,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC boosted its stake in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares in the last quarter. SHP Wealth Management bought a new position in shares of Okta in the 4th quarter valued at approximately $27,000. Torren Management LLC bought a new position in shares of Okta in the 4th quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Okta in the 3rd quarter worth approximately $34,000. Finally, Spire Wealth Management boosted its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of the firm’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 completion of the sale, the director owned 9,192 shares in the company, valued at approximately $781,320. This trade represents a 21.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. The trade was 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. Insiders sold 111,611 shares of company stock valued at $12,832,682 over the last quarter. Company insiders own 4.61% of the company’s stock.

Okta Trading Up 1.9%

Shares of OKTA stock opened at $118.16 on Wednesday. The firm has a market capitalization of $20.54 billion, a P/E ratio of 85.62, a price-to-earnings-growth ratio of 4.20 and a beta of 0.80. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The firm’s fifty day simple moving average is $94.64 and its 200 day simple moving average is $87.58.

Okta (NASDAQ:OKTA) last posted its quarterly 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. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period last year, the business posted $0.86 EPS. The business’s quarterly 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. Equities research analysts anticipate that Okta, Inc. will post 1.74 EPS for the current fiscal year.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
• Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details

Wall Street Analyst Weigh In

Several equities analysts have commented on OKTA shares. TD Cowen lowered their price target on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Raymond James Financial raised shares of Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, April 16th. Seaport Research Partners lowered shares of Okta to a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings upgraded shares of Okta from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Finally, Berenberg Bank boosted their target price on shares of Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $114.14.

About Okta

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.