Ninety One North America Inc. Makes New $2.29 Million Investment in Okta, Inc. $OKTA

Key Points

• Ninety One North America bought a new $2.29 million position in Okta (26,425 shares) in Q4, joining other institutions that collectively own about 86.64% of the stock as several large funds increased their stakes.
• Insider selling has been notable recently—insiders sold 63,843 shares worth roughly $5.07 million in the last 90 days, leaving insiders with about 5.68% ownership, which some investors view as a cautionary sign.
• Okta beat quarterly revenue and EPS (EPS $0.90 vs $0.85; revenue $761M), set FY2027 EPS guidance of 3.74–3.82, authorized a $1 billion share buyback, and carries a consensus “Moderate Buy” rating with a $101.81 price target amid bullish AI-agent security narratives.

Ninety One North America Inc. bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 26,425 shares of the company's stock, valued at approximately $2,285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Okta by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company's stock worth $425,082,000 after acquiring an additional 179,919 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Okta by 9.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company's stock worth $204,162,000 after acquiring an additional 189,036 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company's stock worth $172,895,000 after acquiring an additional 1,099,962 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Okta by 4.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,700,387 shares of the company's stock worth $155,925,000 after acquiring an additional 75,987 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,818 shares of Okta stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $80.00, for a total value of $1,345,440.00. Following the completion of the transaction, the insider directly owned 15,470 shares of the company's stock, valued at $1,237,600. The trade was a 52.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 6,377 shares of Okta stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the transaction, the insider directly owned 54,825 shares of the company's stock, valued at approximately $4,372,293.75. This represents a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 63,843 shares of company stock valued at $5,071,889. 5.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Okta from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Oppenheimer cut their price objective on Okta from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Thursday, March 5th. KeyCorp cut their price objective on Okta from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday. Jefferies Financial Group cut their price objective on Okta from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Finally, BMO Capital Markets raised Okta from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $83.00 to $97.00 in a research report on Friday, March 6th. Twenty-eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.81.

Okta Price Performance

NASDAQ OKTA opened at $72.25 on Friday. The company has a market cap of $12.78 billion, a P/E ratio of 55.15, a P/E/G ratio of 2.80 and a beta of 0.76. The stock has a 50-day moving average of $77.35 and a two-hundred day moving average of $84.16. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has approved a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Raymond James upgraded OKTA to Outperform, citing improving profitability, strong free cash flow and the view that AI agents expand Okta’s TAM by creating demand for identity for machine-to-machine and human-to-machine interactions. The broker set an $85 price target, which helped spark the rally. Why Okta (OKTA) Is Up 6.3% After Raymond James’ AI-Focused Upgrade And Profitability Push
• Positive Sentiment: Analysts and press coverage are highlighting Okta’s positioning for AI-agent security — the company’s “secure agentic enterprise” messaging and planned platform features to discover and govern AI agents create a potential new growth vector beyond traditional identity management. AI Agents Could Be a Boon, Not a Replacement, for Okta. An Analyst Says Buy Now.
• Positive Sentiment: Fundamentals cited by brokers: Okta’s latest quarter beat revenue and EPS expectations, showed accelerating free cash flow and expanding backlog metrics (RPO/cRPO), and management has provided multi-year guidance implying continued margin improvement — all supports the case for a re-rating. Okta jumps about 7% on analyst upgrade tied to improving fundamentals and AI-agent security upside
• Neutral Sentiment: Other sell-side activity: KeyBanc and multiple firms maintain buy/overweight views and several price targets sit above the current price, supporting sentiment but leaving dispersion in analyst targets (median targets higher than current). This provides analyst support but not unanimous upside conviction. KeyBanc Sticks to Their Buy Rating for Okta (OKTA)
• Neutral Sentiment: Institutional positioning is mixed — some large funds trimmed holdings while others added materially last quarter. That uneven ownership can amplify trading moves but also means flows could go either way. Okta jumps about 7% on analyst upgrade tied to improving fundamentals and AI-agent security upside
• Negative Sentiment: Insider selling has been heavy in recent months (multiple insiders selling sizable blocks), which some investors view as a cautionary sign about near-term insider conviction despite positive fundamental headlines. Okta jumps about 7% on analyst upgrade tied to improving fundamentals and AI-agent security upside

Okta 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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