Nuveen LLC Buys New Shares in Okta, Inc. $OKTA

Key Points

• Nuveen LLC has acquired a new position in Okta, Inc., investing approximately $44.34 million for 421,399 shares, representing about 0.24% of the company's stock.
• Multiple hedge funds have increased their stakes in Okta, with notable increases from Vanguard Group, Massachusetts Financial Services, and Ameriprise Financial, contributing to institutional investors owning 86.64% of the company.
• Analysts have varying ratings and price targets for Okta, with an average rating of "Hold" and a consensus target price of $118.61, despite some fluctuations in price estimates among different research firms.

Nuveen LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 421,399 shares of the company's stock, valued at approximately $44,340,000. Nuveen LLC owned about 0.24% of Okta at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OKTA. Vanguard Group Inc. grew its position in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after purchasing an additional 2,830,582 shares during the period. Point72 Asset Management L.P. boosted its position in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the period. Ameriprise Financial Inc. grew its stake in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new stake in Okta in the first quarter worth $189,915,000. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

Shares of NASDAQ OKTA traded down $0.5160 during midday trading on Wednesday, reaching $90.6340. The company's stock had a trading volume of 987,062 shares, compared to its average volume of 3,564,502. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a market cap of $15.87 billion, a price-to-earnings ratio of 143.95, a price-to-earnings-growth ratio of 4.42 and a beta of 0.80. The company has a 50 day moving average price of $96.12 and a 200 day moving average price of $102.55. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the previous year, the company earned $0.65 EPS. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. 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.

Insider Transactions at Okta

In other news, 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 transaction of $3,010,717.60. Following the transaction, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. This represents a 60.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 88,594 shares of company stock valued at $8,382,790. Insiders own 5.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $138.00 price target on shares of Okta in a report on Monday. Evercore ISI boosted their target price on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. raised their price target on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Needham & Company LLC lifted their price target on Okta from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Scotiabank increased their price objective on Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Twenty investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $118.06.

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.