Federation des caisses Desjardins du Quebec Increases Stock Holdings in Okta, Inc. $OKTA

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Okta, Inc. by 558.5% during the first quarter, now owning 31,172 shares valued at approximately $3.28 million.
• Several other institutional investors also notably increased their stakes in Okta, with 86.64% of the stock currently owned by such entities.
• Research analysts have mixed views on Okta, with a consensus rating of "Moderate Buy" and a price target averaging $118.25, despite some recent upgrades to "sell" ratings.

Federation des caisses Desjardins du Quebec raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 558.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,172 shares of the company's stock after acquiring an additional 26,438 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Okta were worth $3,280,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OKTA. Massachusetts Financial Services Co. MA raised its stake in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after purchasing an additional 2,830,582 shares during the period. Ninety One UK Ltd bought a new stake in shares of Okta during the 1st quarter worth $189,915,000. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after purchasing an additional 1,572,786 shares during the period. Sachem Head Capital Management LP bought a new stake in shares of Okta during the 4th quarter worth $105,592,000. Finally, Vanguard Group Inc. raised its stake in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Eric Robert Kelleher sold 16,018 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the completion of the sale, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. This trade represents a 69.46% 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, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the sale, the director directly owned 2,832 shares of the company's stock, valued at $284,021.28. The trade was a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OKTA shares. Barclays boosted their price objective on Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Wells Fargo & Company upped their price target on Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 28th. Westpark Capital reiterated a "buy" rating and set a $140.00 price target on shares of Okta in a research report on Wednesday, August 27th. Wall Street Zen upgraded Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, Jefferies Financial Group upped their price target on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.25.

Okta Trading Up 1.3%

Shares of NASDAQ:OKTA traded up $1.20 during trading on Monday, reaching $92.68. 2,346,705 shares of the company traded hands, compared to its average volume of 4,610,761. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 109.04, a P/E/G ratio of 4.46 and a beta of 0.83. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The business's fifty day moving average is $94.02 and its 200-day moving average is $102.11.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The firm 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%.The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. On average, sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.