Canada Pension Plan Investment Board Has $4.15 Million Holdings in Okta, Inc. $OKTA

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Okta, Inc. by 39.8%, selling 26,100 shares and leaving it with 39,400 shares valued at approximately $4.1 million.
• Insider transactions included CFO Brett Tighe selling 10,000 shares worth $950,000 and another insider selling 16,018 shares for approximately $1.47 million.
• Despite the recent share sales, Okta's stock performance remains robust, with a 1-year high of $127.57 and projected earnings of $0.91 EPS beating estimates.

Canada Pension Plan Investment Board trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,400 shares of the company's stock after selling 26,100 shares during the period. Canada Pension Plan Investment Board's holdings in Okta were worth $4,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in shares of Okta by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after buying an additional 136 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Okta by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock worth $445,000 after buying an additional 171 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Algert Global LLC acquired a new stake in Okta during the 4th quarter valued at $1,518,000. Finally, Captrust Financial Advisors lifted its position in shares of Okta by 21.8% during the 4th quarter. Captrust Financial Advisors now owns 8,676 shares of the company's stock valued at $684,000 after acquiring an additional 1,555 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

Shares of NASDAQ OKTA traded up $0.74 during midday trading on Monday, hitting $92.22. The stock had a trading volume of 1,412,162 shares, compared to its average volume of 3,732,276. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market cap of $16.14 billion, a P/E ratio of 108.47, a price-to-earnings-growth ratio of 4.46 and a beta of 0.83. The company's 50-day simple moving average is $94.16 and its 200 day simple moving average is $102.11.

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

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares of the company's stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 in the last three months. Corporate insiders own 5.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BTIG Research restated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. Royal Bank Of Canada raised their target price on Okta from $113.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Mizuho reduced their price target on shares of Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Wells Fargo & Company upped their price objective on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 28th. Finally, Stephens restated an "equal weight" rating and set a $127.00 target price on shares of Okta in a research report on Tuesday, May 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Okta has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta 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.