Amundi Buys 100,252 Shares of Okta, Inc. $OKTA

Key Points

• Amundi increased its Okta stake by 19.7%, purchasing 100,252 additional shares to hold 609,207 shares valued at approximately $48.0 million. Institutional investors own 86.64% of Okta.
• Okta reported quarterly earnings of $0.91 per share, beating estimates of $0.85, while revenue rose 11.2% year over year to $765 million. Shares opened at $141.93, near their 52-week high of $157.00.
• Analysts maintain a generally positive outlook, with Okta carrying a “Moderate Buy” consensus rating, though the average price target of $121.81 is below the current share price. Investors are also weighing the reported $200 million Permiso acquisition, alongside integration and valuation risks.

Amundi raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,207 shares of the company's stock after purchasing an additional 100,252 shares during the period. Amundi owned 0.34% of Okta worth $47,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. SHP Wealth Management bought a new position in Okta during the fourth quarter valued at $27,000. Torren Management LLC bought a new stake in shares of Okta in the 4th quarter worth about $32,000. Spire Wealth Management lifted its holdings in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company's stock worth $44,000 after acquiring an additional 119 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Okta during the 4th quarter worth about $56,000. Finally, Assetmark Inc. grew its holdings in Okta by 81.1% during the 1st quarter. Assetmark Inc. now owns 719 shares of the company's stock valued at $57,000 after purchasing an additional 322 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $141.93 on Monday. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 102.85, a price-to-earnings-growth ratio of 5.10 and a beta of 0.77. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $157.00. The firm has a 50 day moving average of $129.18 and a 200 day moving average of $97.62.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $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. On average, sell-side analysts expect that Okta, Inc. will post 1.75 EPS for the current year.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Strategic expansion into AI and cloud identity security: Permiso’s behavioral analytics, identity-risk signals and threat-detection capabilities should strengthen Okta’s identity management platform as businesses deploy more autonomous AI agents and other non-human identities across multi-cloud environments. Okta buys AI security startup Permiso
• Positive Sentiment: Potential to broaden Okta’s growth opportunity: The acquisition adds identity threat detection and response to Okta’s existing platform, potentially increasing its value to enterprise customers seeking unified protection for users, workloads and AI agents. The deal is expected to close in the third quarter. Okta Inks Permiso Purchase
• Neutral Sentiment: Reported acquisition price: Sources put the transaction value at approximately $200 million. The strategic rationale is favorable, but Okta has not publicly detailed the deal’s financial terms, expected revenue contribution or impact on guidance. Okta to acquire Permiso Security in reported $200M deal
• Negative Sentiment: Execution and valuation risks remain: Okta will need to integrate Permiso’s technology and retain its talent while demonstrating that the purchase can generate meaningful growth. With the stock trading at a high earnings valuation and near its recent high, investors may expect strong execution from the acquisition.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 24,971 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares in the company, valued at $3,148,970.01. The trade was a 51.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 174,224 shares of company stock valued at $22,534,353. Corporate insiders own 4.61% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Cantor Fitzgerald raised their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. The Goldman Sachs Group initiated coverage on Okta in a research note on Monday, July 6th. They set a "buy" rating on the stock. Berenberg Bank increased their price target on Okta from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 29th. BTIG Research raised their price target on Okta from $119.00 to $136.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Finally, Sanford C. Bernstein cut Okta from an "outperform" rating to a "hold" rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and an average target price of $121.81.

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.

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