River Street Advisors LLC Purchases Shares of 5,555 Okta, Inc. $OKTA

River Street Advisors LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,555 shares of the company’s stock, valued at approximately $437,000.

Several other large investors also recently made changes to their positions in the business. First Trust Advisors LP lifted its position in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after buying an additional 1,326,051 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Okta by 2.9% during 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 purchasing an additional 69,653 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 purchasing an additional 189,036 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after purchasing an additional 1,099,962 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Price Performance

OKTA opened at $124.28 on Friday. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 90.06, a P/E/G ratio of 4.29 and a beta of 0.80. The business’s 50-day moving average price is $97.94 and its two-hundred day moving average price is $88.30. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter last year, the firm earned $0.86 EPS. Okta’s revenue for the quarter 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. Sell-side analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Okta from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Needham & Company LLC upped their target price on shares of Okta from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna increased their price target on Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group lifted their price objective on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $115.97.

Insider Activity at Okta

In other news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director owned 9,192 shares of the company’s stock, valued at $781,320. This trade represents a 21.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of the stock in a transaction dated 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 SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 114,074 shares of company stock worth $13,128,242. Insiders own 4.61% of the company’s stock.

Key Headlines Impacting Okta

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.

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.