Swedbank AB Has $52.22 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Swedbank AB significantly increased its ownership in Okta, Inc. by 483.1% in Q1, acquiring an additional 411,200 shares, bringing their total to 496,324 shares valued at approximately $52 million.
• Recent analyst ratings on Okta indicate a mix of sentiments, with target price reductions from firms like BMO Capital Markets and Scotiabank, while Cantor Fitzgerald maintains an "overweight" rating with a target of $130.00.
• Insider trading activity includes sales by CFO Brett Tighe and CRO Jonathan James Addison, who collectively sold shares worth nearly $1.85 million, resulting in significant decreases in their ownership stakes.

Swedbank AB grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 483.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 496,324 shares of the company's stock after buying an additional 411,200 shares during the quarter. Swedbank AB owned 0.28% of Okta worth $52,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GK Wealth Management LLC lifted its stake in Okta by 13.5% during the first quarter. GK Wealth Management LLC now owns 3,837 shares of the company's stock worth $404,000 after purchasing an additional 457 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Okta by 27.2% during the first quarter. Geneos Wealth Management Inc. now owns 13,314 shares of the company's stock worth $1,401,000 after purchasing an additional 2,848 shares during the last quarter. Focus Partners Wealth lifted its stake in Okta by 3.5% during the first quarter. Focus Partners Wealth now owns 114,480 shares of the company's stock worth $12,046,000 after purchasing an additional 3,857 shares during the last quarter. Bayforest Capital Ltd bought a new position in Okta during the first quarter worth $374,000. Finally, SCS Capital Management LLC bought a new position in Okta during the first quarter worth $1,266,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of OKTA traded up $0.08 during trading hours on Wednesday, reaching $90.00. 2,565,007 shares of the company's stock traded hands, compared to its average volume of 3,683,361. The business's fifty day simple moving average is $93.17 and its two-hundred day simple moving average is $102.08. The firm has a market capitalization of $15.76 billion, a price-to-earnings ratio of 105.88, a P/E/G ratio of 4.43 and a beta of 0.83. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.Okta's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity

In related news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the chief financial officer owned 132,288 shares in the company, valued at $12,567,360. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider owned 23,640 shares of the company's stock, valued at $2,364,000. This trade represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,489 shares of company stock valued at $8,273,947 over the last quarter. Insiders own 5.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OKTA shares. JMP Securities reiterated a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. DA Davidson cut their target price on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Arete started coverage on Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 target price on the stock. Wells Fargo & Company raised their target price on Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 28th. Finally, Robert W. Baird cut their target price on Okta from $148.00 to $142.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $118.25.

Okta 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.