APG Asset Management US Inc. Buys 4,593 Shares of Okta, Inc. $OKTA

Key Points

• APG Asset Management US Inc. increased its stake in Okta, Inc. by 89.8%, owning 9,706 shares valued at $1,016,000 after acquiring an additional 4,593 shares in the first quarter.
• Twenty analysts gave Okta's stock a consensus rating of "Hold," with an average price target of $117.92, reflecting mixed sentiments about its performance.
• Insider selling was noted, with CFO Brett Tighe and CRO Jonathan James Addison selling shares amounting to $1.85 million, contributing to a total of 88,594 shares sold by insiders in the last 90 days.

APG Asset Management US Inc. boosted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 89.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,706 shares of the company's stock after acquiring an additional 4,593 shares during the quarter. APG Asset Management US Inc.'s holdings in Okta were worth $1,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after buying an additional 582,956 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after buying an additional 4,171 shares during the last quarter. Trek Financial LLC bought a new stake in Okta during the first quarter worth about $426,000. Merit Financial Group LLC bought a new stake in Okta during the first quarter worth about $823,000. Finally, Stephens Investment Management Group LLC grew its stake in Okta by 10.4% during the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after buying an additional 46,818 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKTA. Guggenheim reiterated a "buy" rating and set a $138.00 target price on shares of Okta in a research report on Monday, August 18th. Scotiabank increased their target price on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Mizuho cut their target price on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. UBS Group dropped their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, BMO Capital Markets set a $132.00 price target on shares of Okta and gave the company a "market perform" rating in a research note on Wednesday, May 28th. Twenty analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $117.92.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at $12,567,360. This represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the transaction, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 over the last 90 days. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of Okta stock opened at $92.05 on Friday. The company has a 50 day moving average of $95.62 and a 200-day moving average of $102.43. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The company has a market cap of $16.12 billion, a PE ratio of 146.11, a price-to-earnings-growth ratio of 4.34 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. As a group, equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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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