Okta, Inc. $OKTA Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its holdings in Okta, Inc. by 7.9%, now owning approximately 0.62% of the company, valued at over $113 million.
• Okta reported a 11.5% year-over-year revenue increase, achieving $688 million for the quarter, and exceeding earnings expectations with $0.86 per share.
• Analysts have generally rated Okta positively, with multiple upgrades and a consensus target price of $117.92, indicating a strong market outlook.

Northern Trust Corp boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,080,533 shares of the company's stock after purchasing an additional 79,506 shares during the period. Northern Trust Corp owned approximately 0.62% of Okta worth $113,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC lifted its holdings in shares of Okta by 67.9% in the fourth quarter. GeoWealth Management LLC now owns 1,011 shares of the company's stock valued at $80,000 after buying an additional 409 shares during the period. MML Investors Services LLC lifted its holdings in Okta by 7.5% in the 4th quarter. MML Investors Services LLC now owns 35,818 shares of the company's stock valued at $2,822,000 after acquiring an additional 2,485 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Okta by 46.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock valued at $854,000 after acquiring an additional 3,429 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Okta by 86.3% during the 4th quarter. Stifel Financial Corp now owns 69,426 shares of the company's stock valued at $5,471,000 after purchasing an additional 32,168 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Okta in the 4th quarter worth approximately $27,580,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Up 2.5%

NASDAQ:OKTA opened at $92.05 on Friday. The business's fifty day moving average price is $95.62 and its 200 day moving average price is $102.47. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 146.11, a PEG ratio of 4.45 and a beta of 0.80. 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, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The company 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 revenue for the quarter was up 11.5% on a year-over-year basis. 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, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,244 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider directly owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Guggenheim reissued a "buy" rating and set a $138.00 price objective on shares of Okta in a research note on Monday, August 18th. Royal Bank Of Canada cut their target price on Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. JMP Securities reiterated a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus lifted their price target on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Twenty research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $117.92.

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.

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