Mn Services Vermogensbeheer B.V. Grows Stock Position in Okta, Inc. $OKTA

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Okta, Inc. by 7.5% during the second quarter, now holding 62,000 shares valued at approximately $6.20 million.
• Various institutional investors, including Vanguard Group Inc. and Wealth Enhancement Advisory Services LLC, have also modified their stakes in Okta, indicating strong interest, with institutional ownership now at 86.64%.
• Okta's stock recently experienced a slight decline of 0.2%, with an opening price of $93.37, while analysts have varying price targets, reflecting differing sentiments on the company's future performance.

Mn Services Vermogensbeheer B.V. raised its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,000 shares of the company's stock after purchasing an additional 4,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Okta were worth $6,198,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OKTA. Wolff Wiese Magana LLC grew its stake in shares of Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares during the period. Wayfinding Financial LLC bought a new position in shares of Okta during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% during the 1st 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 period. Rossby Financial LCC bought a new position in shares of Okta during the 1st quarter valued at approximately $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Okta during the 4th quarter valued at approximately $40,000. 86.64% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 16,018 shares of the 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 sale, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 31,592 shares of the stock in a transaction 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 sale, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,012 shares of company stock worth $8,293,168 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on OKTA shares. Arete started coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 price objective for the company. BMO Capital Markets cut their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research note on Wednesday, August 27th. Truist Financial upgraded Okta from a "hold" rating to a "buy" rating and boosted their price objective for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Stifel Nicolaus boosted their price target on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $118.25.

Okta Price Performance

Shares of NASDAQ OKTA traded down $0.99 during midday trading on Monday, reaching $92.38. 2,518,523 shares of the stock traded hands, compared to its average volume of 3,686,110. The stock has a market capitalization of $16.17 billion, a PE ratio of 108.68, a P/E/G ratio of 4.57 and a beta of 0.83. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The company's 50 day moving average is $93.00 and its 200 day moving average is $101.77.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS 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 the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, equities analysts forecast 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.