Swedbank AB Purchases 1,007,915 Shares of Okta, Inc. $OKTA

Key Points

• Swedbank AB increased its Okta stake by 124.3% in Q4, acquiring 1,007,915 shares to hold 1,819,081 shares (about 1.03% of the company) valued at roughly $157.3 million.
• Company insiders have sold 63,843 shares in the past 90 days (about $5.07M), including notable dispositions by Eric Kelleher and Larissa Schwartz; insiders now own 5.68% of the stock.
• Okta beat quarterly expectations with EPS of $0.90 versus $0.85 expected and revenue of $761M (+11.6% YoY), provided FY2027 EPS guidance of 3.740–3.820, and carries a MarketBeat consensus of "Moderate Buy" with a $100.89 target despite mixed analyst ratings.

Swedbank AB raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 124.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,819,081 shares of the company's stock after acquiring an additional 1,007,915 shares during the quarter. Swedbank AB owned approximately 1.03% of Okta worth $157,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Vanguard Group Inc. grew its position in Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company's stock worth $425,082,000 after buying an additional 179,919 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Okta by 9.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company's stock worth $204,162,000 after buying an additional 189,036 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Okta by 113.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company's stock worth $172,895,000 after buying an additional 1,099,962 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Okta by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,940,353 shares of the company's stock valued at $167,861,000 after acquiring an additional 28,155 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 16,818 shares of Okta stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the completion of the transaction, the insider directly owned 15,470 shares of the company's stock, valued at $1,237,600. The trade was a 52.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 6,377 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total transaction of $508,565.75. Following the completion of the transaction, the insider directly owned 54,825 shares in the company, valued at $4,372,293.75. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 63,843 shares of company stock valued at $5,071,889. 5.68% of the stock is owned by company insiders.

Okta Stock Performance

Okta stock opened at $77.75 on Wednesday. The stock has a 50-day simple moving average of $75.71 and a 200 day simple moving average of $82.98. The stock has a market capitalization of $13.75 billion, a P/E ratio of 59.35, a PEG ratio of 3.01 and a beta of 0.59. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $761.00 million during the quarter, compared to analysts' expectations of $749.87 million. During the same period last year, the firm posted $0.78 earnings per share. The business's 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. Research analysts forecast that Okta, Inc. will post 1.61 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on OKTA shares. BMO Capital Markets raised Okta from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $83.00 to $97.00 in a research report on Friday, March 6th. Canaccord Genuity Group decreased their price target on Okta from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Wells Fargo & Company initiated coverage on Okta in a research report on Tuesday, March 3rd. They set an "equal weight" rating and a $76.00 price target on the stock. BTIG Research cut Okta from a "buy" rating to a "hold" rating in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded Okta from a "buy" rating to a "hold" rating in a report on Saturday. Twenty-eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.89.

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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