Lansforsakringar Fondforvaltning AB publ Decreases Stake in Okta, Inc. $OKTA

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Okta, Inc. by 6.3%, now owning 52,032 shares valued at approximately $5,475,000.
• Multiple hedge funds have significantly increased their positions in Okta, with Massachusetts Financial Services raising its stake by 325.6%, now holding 3,699,944 shares valued at $389 million.
• Analyst ratings are mixed, with twenty-two analysts rating Okta as a Buy and others adjusting price targets, indicating ongoing interest in the stock.

Lansforsakringar Fondforvaltning AB publ lessened its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,032 shares of the company's stock after selling 3,476 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Okta were worth $5,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OKTA. Wolff Wiese Magana LLC raised its stake in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new position in Okta during the first quarter valued at $27,000. Harbour Investments Inc. increased its position in Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after acquiring an additional 157 shares during the last quarter. Rossby Financial LCC bought a new position in Okta during the first quarter valued at $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Okta during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OKTA. The Goldman Sachs Group boosted their price objective on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Royal Bank Of Canada boosted their price objective on shares of Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Bank of America reiterated an "underperform" rating and set a $75.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Stifel Nicolaus upped their price target on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Evercore ISI upped their price target on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta Price Performance

NASDAQ OKTA traded up $0.32 during midday trading on Wednesday, hitting $89.82. 3,413,872 shares of the company traded hands, compared to its average volume of 3,753,973. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company's 50-day simple moving average is $94.64 and its 200-day simple moving average is $102.20. The company has a market cap of $15.73 billion, a PE ratio of 105.67, a price-to-earnings-growth ratio of 4.52 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $728,000 billion during the quarter, compared to analysts' expectations of $711.84 million. During the same period in the prior year, the business posted $0.72 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by corporate insiders.

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.