Ameriprise Financial Inc. Has $211.98 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Ameriprise Financial Inc. increased its holdings in Okta, Inc. by 5.2%, bringing their total shares to 2,014,665, valued at approximately $211.98 million.
• Okta recently reported a quarterly earnings per share (EPS) of $0.86, surpassing analyst estimates by $0.09, and indicating a year-over-year revenue growth of 11.5%.
• A number of brokerages have raised their price targets for Okta, with estimates varying from $83 to $140, reflecting a positive outlook among analysts.

Ameriprise Financial Inc. lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,014,665 shares of the company's stock after buying an additional 100,411 shares during the period. Ameriprise Financial Inc. owned about 1.16% of Okta worth $211,982,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Okta during the 1st quarter worth about $27,000. Harbour Investments Inc. boosted its stake in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Okta during the 1st quarter worth about $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta during the 4th quarter worth about $40,000. Institutional investors own 86.64% of the company's stock.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive directly owned 7,067 shares of the company's stock, valued at $706,700. This trade represents a 56.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the sale, the insider owned 23,640 shares in the company, valued at $2,364,000. This represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock valued at $8,382,790 over the last three months. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of OKTA traded down $0.70 during mid-day trading on Monday, hitting $91.35. 5,428,548 shares of the company's stock were exchanged, compared to its average volume of 3,037,079. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The stock's 50-day simple moving average is $95.46 and its 200-day simple moving average is $102.46. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 145.00, a price-to-earnings-growth ratio of 4.45 and a beta of 0.80. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. On average, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Okta from $105.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday. Roth Capital reiterated a "buy" rating and issued a $119.00 target price on shares of Okta in a research note on Wednesday, May 28th. Scotiabank raised their target price on shares of Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 28th. Guggenheim reiterated a "buy" rating and issued a $138.00 target price on shares of Okta in a research note on Monday, August 18th. Finally, Needham & Company LLC raised their price objective on shares of Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Twenty-one research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Okta presently has a consensus rating of "Hold" and a consensus price target of $118.61.

About Okta

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.