Northwestern Mutual Wealth Management Co. Purchases 14,138 Shares of Okta, Inc. $OKTA

Northwestern Mutual Wealth Management Co. increased its position in Okta, Inc. (NASDAQ:OKTA) by 74.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 33,235 shares of the company’s stock after acquiring an additional 14,138 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Okta were worth $2,874,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after acquiring an additional 161,069 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Okta by 40.1% in the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after purchasing an additional 15,058 shares during the last quarter. Congress Asset Management Co. lifted its stake in Okta by 23.0% in the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock worth $8,480,000 after purchasing an additional 18,325 shares during the last quarter. Finally, Swedbank AB lifted its stake in Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after purchasing an additional 1,007,915 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Arete Research set a $127.00 price objective on shares of Okta and gave the stock a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. TD Cowen decreased their price objective on shares of Okta from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Tuesday, February 24th. Susquehanna raised their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Needham & Company LLC raised their price objective on shares of Okta from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.29.

Insider Buying and Selling at Okta

In related news, Director David Schellhase bought 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The shares were acquired at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the transaction, the director owned 3,712 shares in the company, valued at $267,412.48. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 11,263 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer directly owned 97,083 shares in the company, valued at approximately $7,864,693.83. This trade represents a 10.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 95,855 shares of company stock valued at $8,975,008. 4.61% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $118.72 on Friday. The firm has a market cap of $21.00 billion, a PE ratio of 86.03, a price-to-earnings-growth ratio of 4.75 and a beta of 0.80. The firm’s 50 day simple moving average is $84.84 and its 200-day simple moving average is $84.50. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts predict that Okta, Inc. will post 1.63 EPS for the current fiscal year.

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.