Okta, Inc. $OKTA Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 94.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,090 shares of the company's stock after selling 596,396 shares during the quarter. Nordea Investment Management AB's holdings in Okta were worth $3,413,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Stableford Capital II LLC purchased a new position in shares of Okta during the 2nd quarter worth $565,000. New York State Teachers Retirement System purchased a new position in shares of Okta during the 2nd quarter worth $12,137,000. Mutual Advisors LLC purchased a new position in shares of Okta during the 2nd quarter worth $235,000. Generali Asset Management SPA SGR purchased a new position in shares of Okta during the 2nd quarter worth $1,402,000. Finally, Courier Capital LLC lifted its stake in shares of Okta by 1.5% during the 2nd quarter. Courier Capital LLC now owns 9,680 shares of the company's stock worth $968,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Up 1.3%

Shares of NASDAQ OKTA opened at $89.45 on Wednesday. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57. The company has a market cap of $15.66 billion, a P/E ratio of 105.24, a P/E/G ratio of 4.34 and a beta of 0.84. The stock has a fifty day moving average price of $91.23 and a 200 day moving average price of $99.03.

Okta (NASDAQ:OKTA - Get Free Report) last announced 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 firm had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period in the prior year, the firm earned $0.72 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OKTA shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Okta in a research note on Wednesday, October 8th. Wall Street Zen raised Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Arete Research raised Okta to a "strong sell" rating and set a $83.00 target price on the stock in a research report on Monday, July 7th. BTIG Research reaffirmed a "buy" rating and issued a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Finally, Scotiabank cut their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Okta presently has a consensus rating of "Hold" and an average price target of $118.94.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the completion of the sale, the insider directly owned 37,837 shares in the company, valued at approximately $3,467,761.05. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 133,336 shares of the company's stock, valued at approximately $12,666,920. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,657 shares of company stock worth $6,798,754 in the last quarter. 5.68% of the stock is owned by corporate insiders.

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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