Allspring Global Investments Holdings LLC Buys 28,255 Shares of Okta, Inc. $OKTA

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Okta, Inc. by 6.9%, owning a total of 435,366 shares valued at approximately $42.9 million.
• In recent transactions, insiders sold a total of 114,249 shares worth over $10.7 million, indicating a notable change in insider ownership.
• Okta reported a revenue growth of 12.7% year-over-year, achieving earnings per share of $0.91, which surpassed analyst expectations.

Allspring Global Investments Holdings LLC boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 435,366 shares of the company's stock after acquiring an additional 28,255 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Okta worth $42,905,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Legal Advantage Investments Inc. increased its stake in Okta by 91.2% during the second quarter. Legal Advantage Investments Inc. now owns 9,540 shares of the company's stock worth $954,000 after acquiring an additional 4,550 shares during the last quarter. CWM LLC increased its stake in Okta by 5.0% during the second quarter. CWM LLC now owns 30,063 shares of the company's stock worth $3,005,000 after acquiring an additional 1,433 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Okta by 28.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,197 shares of the company's stock valued at $3,019,000 after buying an additional 6,718 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Okta during the second quarter valued at approximately $573,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Okta during the second quarter valued at approximately $234,000. 86.64% of the stock is owned by institutional investors.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 1,318 shares of Okta stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total value of $120,794.70. Following the transaction, the insider owned 37,837 shares of the company's stock, valued at $3,467,761.05. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,249 shares of company stock worth $10,759,471. Company insiders own 5.68% of the company's stock.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $89.08 on Wednesday. The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 104.80, a PEG ratio of 4.42 and a beta of 0.84. The stock has a 50 day moving average price of $91.62 and a 200 day moving average price of $99.49. Okta, Inc. has a 52-week low of $70.92 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.Okta's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Arete Research raised Okta to a "strong sell" rating and set a $83.00 target price on the stock in a research note on Monday, July 7th. Zacks Research cut Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and set a $138.00 target price on shares of Okta in a research note on Wednesday, August 27th. Truist Financial raised Okta from a "hold" rating to a "buy" rating and upped their target price for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Okta currently has an average rating of "Hold" and a consensus target price of $118.94.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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