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

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Okta, Inc. (NASDAQ:OKTA) by 22.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 17,356 shares of the company’s stock after purchasing an additional 3,191 shares during the period. 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA boosted 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 buying an additional 550,328 shares during the period. Swedbank AB boosted its position 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 buying an additional 397,507 shares during the period. Bank of America Corp DE boosted its position in shares of Okta by 0.4% in the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after buying an additional 6,533 shares during the period. Finally, Senvest Management LLC grew its holdings in shares of Okta by 54.5% during the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after buying an additional 292,900 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Scotiabank restated an “outperform” rating on shares of Okta in a research report on Monday, September 28th. Jefferies Financial Group raised their price objective on Okta from $200.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Raymond James Financial lifted their target price on Okta from $115.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Finally, BMO Capital Markets increased their price target on shares of Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.38.

Okta Trading Down 3.5%

NASDAQ OKTA opened at $201.33 on Friday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $235.00. The firm’s fifty day simple moving average is $184.16 and its 200-day simple moving average is $137.74. The company has a market capitalization of $35.20 billion, a PE ratio of 121.28, a price-to-earnings-growth ratio of 6.49 and a beta of 0.73.

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

Insider Buying and Selling at Okta

In other Okta news, CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares of the company’s stock, valued at $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated 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 sale, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. This represents a 25.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,766 shares of company stock worth $23,927,112 over the last three months. Corporate insiders own 4.61% of the company’s stock.

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.