55,702 Shares in Okta, Inc. $OKTA Bought by Nykredit A S

Key Points

• Nykredit A S purchased 55,702 Okta shares worth approximately $7.6 million during the second quarter, while institutional investors collectively own 86.64% of the company.
• Okta exceeded quarterly expectations with adjusted EPS of $1.05 versus $0.96 expected and revenue of $805 million, up 10.6% year over year. Several brokerages raised price targets, contributing to a consensus “Moderate Buy” rating.
• Shares trade near their 52-week high at a lofty valuation of roughly 103 times earnings, while insiders have sold substantial holdings under pre-arranged trading plans, presenting potential risks for investors.

Nykredit A S bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 55,702 shares of the company's stock, valued at approximately $7,601,000.

Several other large investors have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Okta during the 4th quarter valued at $3,122,000. Swedbank AB raised its stake in Okta by 124.3% in 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 in the last quarter. Diversify Wealth Management LLC bought a new stake in Okta during the first quarter worth about $2,077,000. Torque Asset Management LLC grew its stake in Okta by 40.5% during the fourth quarter. Torque Asset Management LLC now owns 289,141 shares of the company's stock worth $25,002,000 after buying an additional 83,337 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Okta by 7.7% in the 1st quarter. Swiss National Bank now owns 497,300 shares of the company's stock valued at $39,142,000 after buying an additional 35,700 shares during the period. 86.64% of the stock is owned by institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst estimates increased: Scotiabank reportedly raised its earnings estimates for Okta, adding support to the bullish outlook following the company’s better-than-expected quarterly results. Scotiabank Brokers Increase Earnings Estimates for Okta
• Positive Sentiment: Momentum remains favorable: Zacks highlighted Okta as a strong long-term momentum stock, reflecting its improving earnings performance, revenue growth and favorable price trends. The company recently reported revenue of $805 million, up 10.6% year over year, and adjusted EPS of $1.05 versus the $0.96 consensus estimate. Why Okta Is a Top Momentum Stock for the Long-Term
• Positive Sentiment: AI-agent opportunity strengthens the investment case: Commentary suggests Okta could benefit as businesses require identity, access and security controls for AI agents and other automated systems. This supports the company’s longer-term growth narrative. Okta AI Agents Strengthen My Thesis, But Valuation Is Catching Up
• Neutral Sentiment: Identity-security industry discussion: A comparison of Okta’s and Microsoft’s approaches underscores the growing importance of identity security, but does not identify a specific new contract or near-term financial catalyst for OKTA. What Okta and Microsoft’s Approaches Tell Us About the Future of Identity Security
• Negative Sentiment: Valuation is becoming a concern: With shares trading near their 52-week high and at roughly 103 times earnings, bullish coverage cautions that expectations may already reflect much of Okta’s growth potential. Why Okta Is a Top Momentum Stock for the Long Term
• Negative Sentiment: CFO insider selling: CFO Brett Tighe sold a combined 80,000 Okta shares for approximately $12.9 million. Both transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but the scale of the sales could weigh on sentiment. Okta CFO SEC Form 4 Filing

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKTA. JPMorgan Chase & Co. boosted their target price on shares of Okta from $165.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Evercore reiterated an "outperform" rating and set a $185.00 price target on shares of Okta in a research report on Thursday, August 27th. HSBC downgraded shares of Okta from a "buy" rating to a "hold" rating in a research report on Monday, July 6th. Robert W. Baird upped their target price on Okta from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Finally, KeyCorp raised their target price on Okta from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.92.

Insider Transactions at Okta

In other news, CEO Todd McKinnon sold 68,936 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 38,484 shares of the company's stock, valued at $5,642,524.08. This represents a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the transaction, the chief financial officer owned 119,680 shares of the company's stock, valued at approximately $14,032,480. This trade represents a 35.20% 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. Insiders have sold a total of 220,376 shares of company stock valued at $31,355,385 over the last three months. Company insiders own 4.61% of the company's stock.

Okta Stock Performance

NASDAQ OKTA opened at $170.60 on Friday. The firm's fifty day moving average price is $146.29 and its two-hundred day moving average price is $108.37. The stock has a market cap of $29.82 billion, a PE ratio of 102.77, a PEG ratio of 5.36 and a beta of 0.79. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $174.85.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analysts' expectations of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.Okta's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. 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, sell-side analysts predict that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Okta 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.

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