Jupiter Asset Management Ltd. Has $44.48 Million Stock Holdings in Okta, Inc. $OKTA

Key Points

• Jupiter Asset Management sharply increased its Okta position in the fourth quarter, lifting its stake by 2,982.2% to 514,449 shares worth about $44.5 million.
• Okta’s latest earnings beat expectations, with $0.91 EPS and $765 million in revenue, while management also raised guidance above analyst forecasts for both Q2 FY2027 and FY2027.
• Sentiment around the stock has improved, with several analysts raising price targets and Okta highlighting a growing opportunity in AI-agent identity management; however, insiders have also been selling shares recently.

Jupiter Asset Management Ltd. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 2,982.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 514,449 shares of the company's stock after purchasing an additional 497,758 shares during the quarter. Jupiter Asset Management Ltd. owned 0.29% of Okta worth $44,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock valued at $40,241,000 after buying an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co lifted its position in Okta by 40.1% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company's stock worth $4,823,000 after buying an additional 15,058 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of Okta by 23.0% during the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company's stock valued at $8,480,000 after buying an additional 18,325 shares during the period. Finally, Swedbank AB boosted its stake in shares of Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company's stock valued at $157,296,000 after buying an additional 1,007,915 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on OKTA shares. Barclays increased their price objective on Okta from $90.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Scotiabank dropped their target price on Okta from $85.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 5th. BTIG Research raised their price target on Okta from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Okta from $85.00 to $80.00 and set a "hold" rating for the company in a report on Thursday, March 5th. Finally, DA Davidson restated a "buy" rating and issued a $110.00 price objective on shares of Okta in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and an average target price of $102.44.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

Insider Activity

In other Okta news, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the transaction, the executive owned 4,364 shares in the company, valued at $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 2,409 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total transaction of $192,720.00. Following the completion of the sale, the insider owned 15,470 shares of the company's stock, valued at $1,237,600. The trade was a 13.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 70,884 shares of company stock valued at $5,625,648. Insiders own 4.61% of the company's stock.

Okta Price Performance

NASDAQ OKTA opened at $94.72 on Friday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $107.84. The stock's 50-day moving average is $79.01 and its two-hundred day moving average is $82.69. The firm has a market cap of $16.76 billion, a P/E ratio of 72.31, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm's revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company 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. On average, equities analysts expect that Okta, Inc. will post 1.61 EPS for the current year.

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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