First Trust Advisors LP Sells 1,835,482 Shares of Okta, Inc. $OKTA

First Trust Advisors LP lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 30.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,194,608 shares of the company’s stock after selling 1,835,482 shares during the period. First Trust Advisors LP’s holdings in Okta were worth $330,158,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OKTA. Robeco Institutional Asset Management B.V. grew its holdings in Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after purchasing an additional 161,069 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Okta during the fourth quarter valued at about $3,122,000. Swedbank AB raised its holdings in shares of Okta by 124.3% during the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after purchasing an additional 1,007,915 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Okta during the 1st quarter worth about $2,077,000. Finally, Torque Asset Management LLC boosted its position in shares of Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock worth $25,002,000 after purchasing an additional 83,337 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Wall Street sentiment remains constructive for Okta, with recent coverage highlighting cybersecurity as a potential AI winner and analysts recently lifting price targets, including a new high target of $165 from Scotiabank. The Next Big AI Winner: Cybersecurity Wall Street Just Supersized Its Price Targets on Okta and Fortinet. Are Cybersecurity Stocks a Must-Own in 2026?
• Positive Sentiment: Okta has continued to show solid fundamentals after its last earnings report, with revenue up 11% year over year and guidance left intact, which supports the longer-term bull case. Why Okta (OKTA) Stock Is Down Today
• Neutral Sentiment: Okta has been one of Zacks’ most-watched stocks recently, suggesting elevated investor attention rather than a clear new catalyst. Okta, Inc. (OKTA) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Recent institutional activity is mixed, with several large funds adding shares while others reduced exposure, pointing to continued interest but not a uniform signal.
• Negative Sentiment: The stock’s pullback appears tied to profit-taking after a strong rally to a recent 52-week high, along with broader caution across software names as spending shifts toward AI infrastructure. Why Okta (OKTA) Stock Is Down Today

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKTA. Wolfe Research started coverage on Okta in a research report on Thursday, April 16th. They issued an “outperform” rating for the company. Morgan Stanley assumed coverage on Okta in a report on Monday, July 6th. They issued a “neutral” rating on the stock. Royal Bank Of Canada raised their price objective on Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. HSBC downgraded Okta from a “buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Jefferies Financial Group raised Okta from a “buy” rating to a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

Okta Price Performance

OKTA opened at $141.71 on Wednesday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $157.00. The firm has a market capitalization of $24.63 billion, a PE ratio of 102.69, a P/E/G ratio of 5.34 and a beta of 0.77. The company’s 50-day moving average is $120.81 and its 200 day moving average is $94.93.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, analysts expect that Okta, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This represents a 64.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the transaction, the chief financial officer owned 119,680 shares in the company, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 4.61% of the company’s stock.

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.