Handelsbanken Fonder AB Increases Position in Okta, Inc. $OKTA

Key Points

• Handelsbanken Fonder AB increased its Okta stake by 351.3% in the second quarter, purchasing 168,291 additional shares for a total holding of 216,191 shares valued at approximately $29.5 million. Institutional investors collectively own 86.64% of Okta.
• Okta exceeded its latest earnings and revenue estimates, reporting $0.91 in EPS and $765 million in revenue, up 11.2% year over year. Analysts maintain a “Moderate Buy” consensus, while Oppenheimer raised its price target to $170.
• Despite positive sentiment, Okta trades near its 52-week high with a P/E ratio above 100 and a PEG ratio above 5, indicating elevated valuation risk. Insiders have also sold roughly 167,847 shares worth $22.0 million over the past 90 days.

Handelsbanken Fonder AB boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 351.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,191 shares of the company's stock after buying an additional 168,291 shares during the period. Handelsbanken Fonder AB owned approximately 0.12% of Okta worth $29,499,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CX Institutional increased its holdings in shares of Okta by 5.1% during the second quarter. CX Institutional now owns 2,633 shares of the company's stock valued at $359,000 after acquiring an additional 127 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company's stock worth $105,000 after purchasing an additional 129 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in Okta by 2.8% in the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company's stock worth $407,000 after purchasing an additional 140 shares in the last quarter. Utah Retirement Systems grew its position in Okta by 0.6% during the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company's stock valued at $2,473,000 after purchasing an additional 163 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its position in Okta by 1.7% during the 4th quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company's stock valued at $837,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Oppenheimer raised its price target on Okta from $125 to $170 and reiterated an “outperform” rating. The new target implies approximately 13.1% upside from the referenced $150.33 price, reinforcing bullish sentiment. Benzinga article
• Positive Sentiment: Oppenheimer said Okta could exceed the midpoint of its fiscal Q2 2027 revenue guidance by roughly two percentage points as sales execution improves. This suggests potentially stronger near-term growth and supports the case for upside revisions. Okta Fiscal Q2 Revenue Could Top Guidance as Sales Execution Improves
• Positive Sentiment: Brokerages collectively maintain a “moderate buy” recommendation for Okta. While analyst ratings can be optimistic, the consensus indicates that Wall Street remains broadly constructive on the company’s outlook. Okta Receives Average Recommendation of Moderate Buy
• Positive Sentiment: Okta was identified as a stock to watch amid strong market momentum and investor interest in leading technology and artificial-intelligence-related companies. This may improve visibility and trading interest, although it is not a company-specific fundamental catalyst. Dow Jones AI Giants and Okta Stocks to Watch
• Neutral Sentiment: A report describing the economic impact of adopting an identity-security fabric with Okta could support the company’s enterprise value proposition, but it appears to be research or promotional content rather than a new contract or financial forecast. Total Economic Impact of Adopting an Identity Security Fabric With Okta
• Neutral Sentiment: The reported short-interest figures show zero shares and a zero-day short ratio, indicating the data is likely incomplete or anomalous. It therefore provides no reliable signal about short-selling pressure.
• Negative Sentiment: Okta’s shares are trading near their 52-week high, with a reported price-to-earnings ratio above 100 and a PEG ratio above 5. These demanding valuation metrics leave less room for disappointment if revenue growth or guidance fails to meet elevated expectations. Okta Broker Recommendations

Insider Buying and Selling

In related news, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer owned 119,680 shares of the company's stock, valued at $14,032,480. The trade was a 35.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the sale, the insider owned 25,241 shares of the company's stock, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 167,847 shares of company stock valued at $22,039,842 over the last ninety days. 4.61% of the stock is owned by insiders.

Okta Stock Down 0.3%

OKTA opened at $150.33 on Wednesday. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 108.94, a PEG ratio of 5.42 and a beta of 0.77. The firm has a 50 day moving average price of $134.40 and a 200-day moving average price of $100.40. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $157.00.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, analysts expect that Okta, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OKTA shares. BTIG Research lifted their target price on shares of Okta from $119.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Cantor Fitzgerald increased their price target on shares of Okta from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Wall Street Zen downgraded shares of Okta from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Susquehanna boosted their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Barclays upped their price objective on Okta from $93.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.06.

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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