KLP Kapitalforvaltning AS Buys 1,100 Shares of Okta, Inc. $OKTA

KLP Kapitalforvaltning AS raised its stake in Okta, Inc. (NASDAQ:OKTA) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,000 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Okta were worth $10,197,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. SteelPeak Wealth LLC bought a new position in Okta in the 2nd quarter valued at about $547,000. Prime Capital Investment Advisors LLC bought a new position in Okta in the 2nd quarter valued at about $308,000. DAVENPORT & Co LLC raised its holdings in Okta by 81.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 589,232 shares of the company’s stock valued at $58,441,000 after acquiring an additional 264,542 shares during the period. Quent Capital LLC raised its holdings in Okta by 7.9% in the 2nd quarter. Quent Capital LLC now owns 2,592 shares of the company’s stock valued at $259,000 after acquiring an additional 190 shares during the period. Finally, 111 Capital raised its holdings in Okta by 9.8% in the 2nd quarter. 111 Capital now owns 3,882 shares of the company’s stock valued at $388,000 after acquiring an additional 348 shares during the period. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Arete began coverage on shares of Okta in a research report on Monday, July 7th. They issued a “sell” rating and a $83.00 price target for the company. Truist Financial raised Okta from a “hold” rating to a “buy” rating and increased their price target for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Guggenheim reaffirmed a “buy” rating and issued a $138.00 price objective on shares of Okta in a report on Wednesday, August 27th. Finally, Canaccord Genuity Group raised Okta from a “hold” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average target price of $118.94.

Insider Activity

In other Okta news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 9,000 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at approximately $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,003 shares of company stock valued at $13,769,238. 5.68% of the stock is owned by insiders.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $93.64 on Friday. The company’s 50 day simple moving average is $92.02 and its 200 day simple moving average is $100.06. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 110.16, a price-to-earnings-growth ratio of 4.55 and a beta of 0.84. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.