Okta, Inc. $OKTA Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Okta, Inc. by 8.8% during the first quarter, acquiring an additional 26,092 shares and bringing its total ownership to approximately 321,230 shares valued at $33.8 million.
• Several other institutional investors also increased their positions in Okta, with substantial changes in ownership, including the Canada Pension Plan Investment Board raising its stake by 358% in the fourth quarter.
• CEO Todd McKinnon sold 31,592 shares of Okta, representing a 60.44% decrease in his position, as the company continues to experience fluctuating stock performance following recent earnings reports.

Invesco Ltd. boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 8.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 321,230 shares of the company's stock after purchasing an additional 26,092 shares during the quarter. Invesco Ltd. owned approximately 0.19% of Okta worth $33,800,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its holdings in shares of Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after acquiring an additional 92 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Okta by 7.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after acquiring an additional 100 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after acquiring an additional 108 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Okta by 3.7% during the first quarter. Stephens Inc. AR now owns 3,417 shares of the company's stock valued at $360,000 after acquiring an additional 121 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the transaction, the insider owned 23,640 shares in the company, valued at $2,364,000. This trade represents a 8.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the transaction, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. This trade represents a 60.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,594 shares of company stock worth $8,382,790. Insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a report on Wednesday, May 28th. Jefferies Financial Group cut their price objective on shares of Okta from $105.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday. BTIG Research restated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and issued a $127.00 target price on shares of Okta in a research report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Okta currently has a consensus rating of "Hold" and an average target price of $117.92.

Okta Stock Performance

Okta stock traded up $2.27 during mid-day trading on Friday, hitting $92.05. The company had a trading volume of 2,740,094 shares, compared to its average volume of 3,377,283. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 4.45 and a beta of 0.80. 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's fifty day moving average is $95.62 and its 200-day moving average is $102.47.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter last year, the firm posted $0.65 EPS. The business's 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. Equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current 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.