Okta, Inc. $OKTA Position Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Okta, Inc. by 13.4%, owning 651,969 shares valued at approximately $68.6 million at the end of the reporting period.
• Okta reported a quarterly earnings per share (EPS) of $0.91, exceeding estimates and indicating a year-over-year revenue growth of 12.7%.
• Institutional investors now hold 86.64% of Okta's stock, reflecting significant interest from major funds in the company's growth potential.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 651,969 shares of the company's stock after purchasing an additional 77,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.38% of Okta worth $68,617,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Okta by 325.6% during 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 acquiring an additional 2,830,582 shares in the last quarter. Point72 Asset Management L.P. raised its stake 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 acquiring an additional 1,572,786 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Okta by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock valued at $211,982,000 after acquiring an additional 100,411 shares in the last quarter. Finally, Alkeon Capital Management LLC bought a new stake in Okta during the 1st quarter valued at $199,918,000. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

Shares of OKTA stock opened at $91.48 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock has a market cap of $16.02 billion, a PE ratio of 107.62, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. The business's fifty day moving average is $94.16 and its 200-day moving average is $102.03.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. During the same period last year, the firm earned $0.72 EPS. The firm's revenue for the quarter 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. Equities research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on OKTA. Westpark Capital reaffirmed a "buy" rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, August 27th. Arete began coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 target price on the stock. Mizuho cut their target price on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Bank of America reaffirmed an "underperform" rating and set a $75.00 target price on shares of Okta in a research note on Wednesday, August 27th. Finally, Barclays lifted their target price on Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Twenty-two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $118.25.

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction 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 transaction, the insider directly owned 7,044 shares in the company, valued at $646,709.64. The trade was a 69.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the completion of the transaction, the executive owned 7,067 shares in the company, valued at $706,700. The trade was a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,594 shares of company stock worth $8,382,790. Corporate insiders own 5.68% of the company's stock.

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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