Okta, Inc. $OKTA Stake Boosted by Swedbank AB

Key Points

• Swedbank AB increased its Okta stake by 21.9% in the first quarter, adding 397,507 shares and bringing its holdings to 2.22 million shares valued at about $174.5 million. Institutional ownership remains high, with hedge funds and other investors holding most of the stock.
• Okta reported stronger-than-expected quarterly results, posting EPS of $0.91 versus estimates of $0.85 and revenue of $765 million versus $751.8 million expected. Revenue rose 11.2% year over year, and the company raised guidance for FY2027 and Q2 2027.
• Analysts are generally constructive on OKTA, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $117.69. The shares also traded near their 12-month high, reflecting recent momentum.

Swedbank AB boosted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,216,588 shares of the company's stock after purchasing an additional 397,507 shares during the period. Swedbank AB owned 1.25% of Okta worth $174,468,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Okta in the first quarter worth approximately $225,000. NewEdge Advisors LLC increased its position in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company's stock worth $582,000 after buying an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Okta in the second quarter worth about $244,000. Invesco Ltd. boosted its stake in shares of Okta by 34.1% during the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company's stock worth $43,071,000 after acquiring an additional 109,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Okta by 122.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company's stock valued at $162,000 after acquiring an additional 893 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Up 0.8%

OKTA traded up $1.18 during trading on Tuesday, hitting $149.78. The company's stock had a trading volume of 827,936 shares, compared to its average volume of 3,648,290. The firm's 50 day moving average price is $105.68 and its two-hundred day moving average price is $90.43. The stock has a market capitalization of $26.03 billion, a price-to-earnings ratio of 108.54, a price-to-earnings-growth ratio of 5.09 and a beta of 0.77. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $151.50.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to analysts' expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, sell-side analysts forecast that Okta, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on OKTA shares. JPMorgan Chase & Co. increased their price target on Okta from $103.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Morgan Stanley assumed coverage on Okta in a research report on Monday. They issued a "neutral" rating on the stock. DA Davidson boosted their price objective on Okta from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Canaccord Genuity Group lifted their price target on Okta from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald increased their price objective on Okta from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $117.69.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase bought 3,712 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $72.04 per share, with a total value of $267,412.48. Following the transaction, the director owned 3,712 shares of the company's stock, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 105,288 shares of company stock worth $12,426,956. 4.61% of the stock is owned by company insiders.

About Okta

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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