Okta, Inc. $OKTA Stake Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its Okta stake by 11.1% in the fourth quarter, ending with 162,515 shares worth about $13.6 million.
• Institutional interest remains strong overall, with hedge funds and asset managers making sizable moves in Okta and 86.64% of the stock now held by institutions and hedge funds.
• Okta’s latest earnings beat expectations, and analysts still view the stock favorably overall, with a Moderate Buy consensus and a target price near $100.89, even as some brokerages recently downgraded the name.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,515 shares of the company's stock after acquiring an additional 16,212 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Okta worth $13,593,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company's stock valued at $172,895,000 after purchasing an additional 1,099,962 shares in the last quarter. Vanguard Group Inc. grew its stake in Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Okta by 276.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company's stock valued at $128,701,000 after buying an additional 1,031,083 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Okta by 816.2% in the third quarter. Victory Capital Management Inc. now owns 641,382 shares of the company's stock valued at $58,815,000 after buying an additional 571,381 shares during the last quarter. Finally, Man Group plc raised its stake in Okta by 132.1% during the third quarter. Man Group plc now owns 741,924 shares of the company's stock valued at $68,034,000 after buying an additional 422,296 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 1,054 shares of Okta stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $80.00, for a total value of $84,320.00. Following the transaction, the insider directly owned 48,448 shares of the company's stock, valued at $3,875,840. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the business's stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the sale, the executive owned 4,364 shares in the company, valued at $339,475.56. This represents a 84.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,384 shares of company stock worth $5,413,148. 4.61% of the stock is owned by corporate insiders.

Okta Price Performance

Shares of Okta stock opened at $83.90 on Monday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.57. The business's fifty day moving average price is $76.07 and its two-hundred day moving average price is $82.86. The company has a market capitalization of $14.84 billion, a P/E ratio of 64.05, a PEG ratio of 3.27 and a beta of 0.59.

Okta (NASDAQ:OKTA - Get Free Report) last released 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. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm had revenue of $761.00 million for the quarter, compared to analysts' expectations of $749.87 million. During the same quarter last year, the company earned $0.78 EPS. Okta's quarterly revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, research analysts expect that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKTA. Seaport Research Partners lowered Okta to a "neutral" rating in a research report on Thursday, April 16th. Zacks Research lowered Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. BMO Capital Markets raised shares of Okta from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $83.00 to $97.00 in a report on Friday, March 6th. Weiss Ratings upgraded shares of Okta from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Okta from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Twenty-eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.89.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Recent coverage says Okta’s AI security initiatives, including securing AI agents and non-human identities, are drawing fresh investor interest and could strengthen its competitive position. Okta (OKTA) Valuation Check As AI Agent Security Push Draws Fresh Investor Attention
• Positive Sentiment: Another article highlighted Okta’s effort to make its identity platform a key layer for enterprise AI-agent security, reinforcing the bullish AI narrative. Is Okta (OKTA) Quietly Turning AI Agent Security Into Its Core Competitive Edge?
• Positive Sentiment: Media coverage noted Okta is targeting roughly 9% FY2027 growth as AI security gains traction, which may reassure investors about the company’s longer-term revenue path. Okta targets 9% FY 2027 growth as AI security gains traction
• Neutral Sentiment: Insider Larissa Schwartz sold shares in two pre-arranged Rule 10b5-1 transactions, but the sales were disclosed as part of a planned trading program and do not necessarily signal a change in fundamentals.
• Neutral Sentiment: One article discussed Okta’s Salesforce integration and broader enterprise identity strategy, which may be viewed as strategic but does not appear to be a major near-term catalyst. Okta-Salesforce integration highlights shift in enterprise identity strategy
• Negative Sentiment: The insider stock sales may create some overhang for traders, even though they were pre-planned and relatively small compared with the insider’s remaining holdings.

Okta Company 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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