National Bank of Canada FI Sells 294,037 Shares of Okta, Inc. $OKTA

Key Points

• National Bank of Canada FI drastically reduced its stake in Okta, Inc. by 99.7%, holding just 830 shares after selling 294,037 shares in the first quarter.
• Institutional ownership of Okta remains strong, with 86.64% of the company's stock held by hedge funds and other investors, including several firms that have increased their stakes.
• Despite a mixed analysis from research firms, Okta has a current consensus rating of "Hold" and a price target of $118.06, with recent earnings showing a 11.5% revenue increase year-over-year.

National Bank of Canada FI cut its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 99.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 830 shares of the company's stock after selling 294,037 shares during the quarter. National Bank of Canada FI's holdings in Okta were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of Okta by 0.8% in the first quarter. Swiss National Bank now owns 462,600 shares of the company's stock valued at $48,675,000 after buying an additional 3,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Okta by 11.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 134,892 shares of the company's stock valued at $14,193,000 after buying an additional 14,058 shares in the last quarter. Y.D. More Investments Ltd increased its stake in shares of Okta by 2.3% in the first quarter. Y.D. More Investments Ltd now owns 14,455 shares of the company's stock valued at $1,521,000 after buying an additional 319 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Okta by 3.7% in the first quarter. Deutsche Bank AG now owns 226,272 shares of the company's stock valued at $23,808,000 after buying an additional 8,160 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Okta in the first quarter worth about $241,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total transaction of $58,268.49. Following the sale, the director owned 2,832 shares in the company, valued at $284,021.28. This represents a 17.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. Corporate insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKTA. Stephens reiterated an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a research report on Tuesday, May 27th. BTIG Research reiterated a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. The Goldman Sachs Group lifted their price objective on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on Okta and gave the stock a "market perform" rating in a research report on Wednesday, May 28th. Finally, Canaccord Genuity Group boosted their target price on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Twenty 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's stock. According to data from MarketBeat, Okta has an average rating of "Hold" and a consensus target price of $118.06.

Okta Stock Down 0.1%

Shares of OKTA traded down $0.12 on Wednesday, hitting $91.03. The company's stock had a trading volume of 1,851,589 shares, compared to its average volume of 3,423,419. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average price is $96.12 and its 200-day moving average price is $102.55. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 95.95, a P/E/G ratio of 4.41 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%.The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. On average, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Okta 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.