SG Americas Securities LLC Increases Stock Holdings in Okta, Inc. $OKTA

Key Points

• SG Americas Securities LLC sharply boosted its Okta stake by 641.7% in the first quarter, ending with 392,421 shares valued at about $30.9 million. Institutional investors remain heavily involved, owning 86.64% of the company.
• Okta’s latest earnings beat estimates, with EPS of $0.91 and revenue of $765 million, both above consensus. Revenue rose 11.2% year over year, and the company raised guidance for fiscal 2027.
• Analyst sentiment is still constructive overall, with a consensus rating of Moderate Buy and an average target price of $114.14, though recent moves have been mixed. Insider activity also showed both buying and selling, including a notable CFO sale in June.

SG Americas Securities LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 641.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,421 shares of the company's stock after acquiring an additional 339,515 shares during the quarter. SG Americas Securities LLC owned about 0.22% of Okta worth $30,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sheets Smith Wealth Management bought a new position in Okta in the 1st quarter valued at $342,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Okta by 30.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,631 shares of the company's stock worth $2,175,000 after purchasing an additional 6,481 shares during the period. Diversified Trust Co increased its holdings in shares of Okta by 3.0% in the first quarter. Diversified Trust Co now owns 13,683 shares of the company's stock worth $1,077,000 after purchasing an additional 399 shares during the period. Corient Private Wealth LLC raised its position in shares of Okta by 60.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,914 shares of the company's stock worth $1,549,000 after buying an additional 6,732 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Okta by 12.1% in the fourth quarter. Hsbc Holdings PLC now owns 381,546 shares of the company's stock worth $33,038,000 after buying an additional 41,162 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Cowen reduced their target price on Okta from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Tuesday, February 24th. Berenberg Bank raised their price target on Okta from $120.00 to $135.00 and gave the company a "buy" rating in a report on Friday, May 29th. The Goldman Sachs Group reiterated a "buy" rating and set a $126.00 price target on shares of Okta in a research report on Friday, May 29th. Needham & Company LLC boosted their price objective on Okta from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their price objective on shares of Okta from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.14.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
• Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details

Okta Stock Up 1.9%

NASDAQ OKTA opened at $118.16 on Wednesday. The company has a 50-day simple moving average of $94.64 and a two-hundred day simple moving average of $87.58. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of 85.62, a PEG ratio of 4.20 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities analysts expect that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, Director David Schellhase bought 3,712 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the purchase, the director directly owned 3,712 shares in the company, valued at $267,412.48. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the sale, the chief financial officer owned 119,680 shares of the company's stock, valued at $14,032,480. This represents a 35.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 111,611 shares of company stock valued at $12,832,682. Insiders own 4.61% 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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