3,191 Okta, Inc. $OKTA Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Okta, Inc. (NASDAQ:OKTA) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,356 shares of the company’s stock after buying an additional 3,191 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Okta were worth $3,629,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after acquiring an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA grew 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 valued at $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Okta by 114.3% in the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock worth $58,718,000 after purchasing an additional 397,951 shares during the period. Swedbank AB increased its stake in shares of Okta by 21.9% in the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after purchasing an additional 397,507 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Okta in the second quarter worth about $45,486,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $201.33 on Friday. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $235.00. The business has a fifty day moving average of $184.16 and a two-hundred day moving average of $137.74. The stock has a market cap of $35.20 billion, a PE ratio of 121.28, a PEG ratio of 6.49 and a beta of 0.73.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Analysts predict that Okta, Inc. will post 1.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. 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 Kelleher sold 6,395 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% 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 ninety days, insiders have sold 137,766 shares of company stock valued at $23,927,112. 4.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKTA shares. BMO Capital Markets raised their price objective on shares of Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. New Street Research set a $235.00 target price on shares of Okta in a research note on Thursday, September 24th. Citizens Jmp upped their target price on shares of Okta from $180.00 to $225.00 and gave the company a “market outperform” rating in a research note on Monday, September 28th. Cantor Fitzgerald increased their price target on shares of Okta from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Wells Fargo & Company raised their price target on shares of Okta from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.38.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.