State of New Jersey Common Pension Fund D Trims Stake in Okta, Inc. $OKTA

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Okta, Inc. by 5.1%, bringing its holdings to 56,997 shares with a value of approximately $5.997 million.
• Other institutional investors have varied their positions, with Vanguard Group increasing its stake by 3.4% to 17.79 million shares, while Wealth Enhancement Advisory Services grew its holdings by 52.4%.
• Okta reported earnings per share of $0.86 for the last quarter, exceeding analysts' expectations and showing a revenue increase of 11.5% compared to the previous year.

State of New Jersey Common Pension Fund D decreased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,997 shares of the company's stock after selling 3,084 shares during the period. State of New Jersey Common Pension Fund D's holdings in Okta were worth $5,997,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after buying an additional 2,830,582 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Ameriprise Financial Inc. increased its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of Okta in the first quarter worth $189,915,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

Okta stock traded up $2.27 during mid-day trading on Friday, hitting $92.05. 2,740,094 shares of the company's stock traded hands, compared to its average volume of 3,559,682. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 4.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a 50 day simple moving average of $95.73 and a two-hundred day simple moving average of $102.45.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. During the same quarter last year, the business earned $0.65 EPS. The company's quarterly revenue was up 11.5% compared to the same quarter last year. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Arete began coverage on Okta in a research report on Monday, July 7th. They set a "sell" rating and a $83.00 price objective on the stock. BTIG Research reissued a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Wells Fargo & Company lifted their price objective on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. increased their price target on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Twenty equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $117.92.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer directly owned 132,288 shares of the company's stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares of the company's stock, valued at approximately $284,021.28. This trade represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock valued at $8,382,790 over the last ninety days. 5.68% of the stock is owned by insiders.

About Okta

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.