Glenmede Trust Co. NA Raises Position in Okta, Inc. $OKTA

Glenmede Trust Co. NA boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 540,947 shares of the company’s stock after buying an additional 35,324 shares during the period. Glenmede Trust Co. NA’s holdings in Okta were worth $42,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKTA. First Trust Advisors LP raised its holdings in shares of Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Okta by 1.8% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Okta by 2.9% in 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 worth $215,776,000 after purchasing an additional 69,653 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Performance

OKTA stock opened at $141.93 on Friday. The company has a market capitalization of $24.67 billion, a PE ratio of 102.85, a price-to-earnings-growth ratio of 5.05 and a beta of 0.77. Okta, Inc. has a one year low of $62.66 and a one year high of $157.00. The company’s 50 day moving average price is $129.18 and its two-hundred day moving average price is $97.60.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data 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 net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter in the prior year, the company earned $0.86 EPS. 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. On average, research analysts predict that Okta, Inc. will post 1.75 EPS for the current year.

Okta News Summary

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 Analyst Weigh In

OKTA has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their price target on shares of Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Raymond James Financial cut shares of Okta from a “buy” rating to a “strong sell” rating in a research report on Monday, July 6th. Barclays lifted their price objective on shares of Okta from $93.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Needham & Company LLC upped their target price on shares of Okta from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.81.

Insider Buying and Selling at Okta

In other news, Director Shellye L. Archambeau sold 2,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $781,320. The trade was a 21.38% decrease in their position. The transaction was disclosed in a legal 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 stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 174,224 shares of company stock valued at $22,534,353. 4.61% of the stock is currently owned by insiders.

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.