New York State Teachers Retirement System Buys Shares of 121,404 Okta, Inc. $OKTA

New York State Teachers Retirement System acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 121,404 shares of the company's stock, valued at approximately $12,137,000. New York State Teachers Retirement System owned about 0.07% of Okta as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after buying an additional 2,830,582 shares during the period. Alkeon Capital Management LLC acquired a new stake in Okta in the 1st quarter valued at approximately $199,918,000. Ninety One UK Ltd bought a new stake in shares of Okta in the first quarter worth $189,915,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock worth $289,234,000 after buying an additional 1,189,222 shares in the last quarter. Finally, PointState Capital LP acquired a new position in Okta during the first quarter valued at approximately $78,094,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKTA. Scotiabank decreased their price objective on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 27th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Okta in a research report on Wednesday, October 8th. Westpark Capital reiterated a "buy" rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, August 27th. Robert W. Baird dropped their price target on Okta from $142.00 to $135.00 and set an "outperform" rating for the company in a research note on Monday, September 29th. Finally, Arete started coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 target price for the company. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $118.94.

Okta Trading Down 0.3%

Shares of OKTA stock opened at $87.43 on Friday. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 102.86, a PEG ratio of 4.29 and a beta of 0.84. The business's 50-day moving average price is $91.23 and its 200-day moving average price is $99.13. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same quarter last year, the business earned $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, sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the transaction, the executive directly owned 7,067 shares in the company, valued at $654,474.87. The trade was a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,249 shares of company stock valued at $9,809,471 over the last quarter. 5.68% of the stock is currently owned by company insiders.

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.

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