Okta, Inc. $OKTA Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital increased its stake in Okta by 816.2%, purchasing 571,381 shares to hold 641,382 shares (about 0.37% of the company) valued at roughly $58.8 million.
• Okta beat Q4 estimates—EPS $0.90 vs. $0.85 and revenue $761M vs. $749.9M—and management said AI‑agent products materially boosted bookings as ACV topped $3 billion.
• The board authorized a $1.00 billion share buyback (up to 6.8% of shares) but issued cautious FY‑2027 and Q1 guidance implying near‑term revenue deceleration, leading to mixed analyst reactions and some price‑target cuts.

Victory Capital Management Inc. raised its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 816.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,382 shares of the company's stock after purchasing an additional 571,381 shares during the period. Victory Capital Management Inc. owned about 0.37% of Okta worth $58,815,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OKTA. Vanguard Group Inc. grew its position in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. First Trust Advisors LP raised its holdings in Okta by 9.1% in the second quarter. First Trust Advisors LP now owns 4,901,123 shares of the company's stock valued at $489,966,000 after acquiring an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company's stock valued at $425,082,000 after acquiring an additional 179,919 shares during the last quarter. Geode Capital Management LLC grew its holdings in Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company's stock worth $314,488,000 after acquiring an additional 314,525 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Okta in the 2nd quarter worth about $211,923,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Up 1.3%

Shares of NASDAQ OKTA opened at $80.72 on Friday. The firm's 50-day moving average price is $85.06 and its two-hundred day moving average price is $87.38. Okta, Inc. has a 52-week low of $68.77 and a 52-week high of $127.57. The stock has a market capitalization of $14.31 billion, a P/E ratio of 61.62, a P/E/G ratio of 3.08 and a beta of 0.79.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 EPS 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 analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has authorized a share buyback plan on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 results beat and signs of enterprise traction — Okta reported stronger-than-expected Q4 revenue and EPS (revenue ~$761M, EPS $0.90) with cRPO/contract metrics up, which underpins the near-term rally. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: AI‑agent product traction — Management said AI‑related products (e.g., Auth0 for AI Agents / Okta for AI Agents) contributed meaningfully to Q4 bookings and the company exceeded $3B in ACV, giving a credible growth narrative tied to securing non‑human identities. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Positive Sentiment: Analyst upgrades and bullish notes — Multiple brokers reiterated or upgraded coverage after the print (BMO upgraded to Outperform with a $97 PT; JPMorgan raised its PT slightly; Jefferies/DA Davidson remain constructive), which supports near‑term upside. BMO Capital Upgrades Okta to Outperform
• Neutral Sentiment: Mixed analyst positioning — while some firms kept or raised price targets, many others trimmed targets on a mix of valuation and near‑term growth concerns; consensus views show upside but with varied conviction. Okta To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Friday
• Neutral Sentiment: Equity plan / shelf filing announced — Okta filed a $763M shelf tied to an ESOP equity offering; routine for employee programs but worth noting for potential future supply. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Negative Sentiment: Cautious FY‑2027 guidance and Q1 outlook — management’s FY‑27 and Q1 guidance implied a near‑term revenue deceleration (Q1 revenue guide slightly below Street estimates), which tempers the rally and keeps longer‑term growth questions alive. Okta's Q4 results surpass estimates, but guidance appears mixed
• Negative Sentiment: Competition and execution questions on the AI agent opportunity — analysts warn that the AI‑agent TAM is attractive but unproven; large cloud players and security vendors are building competing solutions, making monetization and sustained re‑acceleration uncertain. Okta: Bigger Deals And Renewed Growth, Thanks To Agentic AI
• Negative Sentiment: Analyst price‑target cuts — several brokers trimmed targets post‑earnings despite positive notes, signaling caution on valuation and the company’s ability to reaccelerate growth. Benzinga Coverage of Price Target Changes

Analysts Set New Price Targets

OKTA has been the topic of several research analyst reports. UBS Group reduced their price target on shares of Okta from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday. Cantor Fitzgerald cut their price objective on Okta from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Piper Sandler reduced their target price on Okta from $100.00 to $82.00 and set a "neutral" rating on the stock in a report on Thursday. Mizuho decreased their target price on Okta from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. Finally, Oppenheimer dropped their price target on Okta from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.25.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the transaction, the chief financial officer owned 134,385 shares in the company, valued at approximately $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 8,370 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the completion of the sale, the insider directly owned 11,266 shares in the company, valued at approximately $1,016,080.54. This trade represents a 42.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 35,927 shares of company stock valued at $3,272,658 in the last 90 days. Corporate insiders own 5.68% of the company's stock.

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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