Handelsbanken Fonder AB Acquires 168,291 Shares of Okta, Inc. $OKTA

Handelsbanken Fonder AB raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 351.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,191 shares of the company’s stock after acquiring an additional 168,291 shares during the quarter. Handelsbanken Fonder AB’s holdings in Okta were worth $29,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP increased its stake 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 worth $521,422,000 after purchasing an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC grew 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 purchasing an additional 1,485,963 shares during the period. Geode Capital Management LLC increased its position in 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 buying an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 buying an additional 69,653 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake 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. Institutional investors own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Oppenheimer raised its price target on Okta from $125 to $170 and reiterated an “outperform” rating. The new target implies approximately 13.1% upside from the referenced $150.33 price, reinforcing bullish sentiment. Benzinga article
• Positive Sentiment: Oppenheimer said Okta could exceed the midpoint of its fiscal Q2 2027 revenue guidance by roughly two percentage points as sales execution improves. This suggests potentially stronger near-term growth and supports the case for upside revisions. Okta Fiscal Q2 Revenue Could Top Guidance as Sales Execution Improves
• Positive Sentiment: Brokerages collectively maintain a “moderate buy” recommendation for Okta. While analyst ratings can be optimistic, the consensus indicates that Wall Street remains broadly constructive on the company’s outlook. Okta Receives Average Recommendation of Moderate Buy
• Positive Sentiment: Okta was identified as a stock to watch amid strong market momentum and investor interest in leading technology and artificial-intelligence-related companies. This may improve visibility and trading interest, although it is not a company-specific fundamental catalyst. Dow Jones AI Giants and Okta Stocks to Watch
• Neutral Sentiment: A report describing the economic impact of adopting an identity-security fabric with Okta could support the company’s enterprise value proposition, but it appears to be research or promotional content rather than a new contract or financial forecast. Total Economic Impact of Adopting an Identity Security Fabric With Okta
• Neutral Sentiment: The reported short-interest figures show zero shares and a zero-day short ratio, indicating the data is likely incomplete or anomalous. It therefore provides no reliable signal about short-selling pressure.
• Negative Sentiment: Okta’s shares are trading near their 52-week high, with a reported price-to-earnings ratio above 100 and a PEG ratio above 5. These demanding valuation metrics leave less room for disappointment if revenue growth or guidance fails to meet elevated expectations. Okta Broker Recommendations

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 68,936 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the transaction, the chief executive officer owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the transaction, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. This represents a 8.89% decrease in their position. 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 90 days, insiders sold 167,847 shares of company stock worth $22,039,842. Insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OKTA. HSBC cut Okta from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. Barclays increased their target price on shares of Okta from $93.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Seaport Research Partners cut shares of Okta to a “neutral” rating in a research note on Thursday, April 16th. Piper Sandler lifted their price target on shares of Okta from $82.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, UBS Group upped their price target on shares of Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. One 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.06.

Okta Stock Down 0.3%

NASDAQ OKTA opened at $150.33 on Wednesday. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 108.94, a price-to-earnings-growth ratio of 5.42 and a beta of 0.77. The business has a 50-day moving average price of $134.40 and a 200-day moving average price of $100.40. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $157.00.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter last year, the company earned $0.86 EPS. The firm’s quarterly 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. Research analysts expect that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Okta Company 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.