Swiss National Bank Has $44.19 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Swiss National Bank trimmed its Okta stake by 4.0% to 481,900 shares, now owning 0.28% of the company valued at $44.19 million.
• Okta beat quarterly estimates with $0.90 EPS and $761 million revenue (revenue +11.6% YoY), set FY2027 guidance of 3.740–3.820 EPS and authorized a $1.00 billion share buyback (up to 6.8% of outstanding shares).
• Institutional investors own 86.64% of Okta, analysts hold a consensus "Moderate Buy" with a $103.25 target, while insiders have sold 37,763 shares worth about $3.42 million in the past 90 days.

Swiss National Bank cut its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 481,900 shares of the company's stock after selling 20,100 shares during the period. Swiss National Bank owned 0.28% of Okta worth $44,190,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Okta by 20.6% in the third quarter. Russell Investments Group Ltd. now owns 65,097 shares of the company's stock valued at $5,981,000 after acquiring an additional 11,098 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in Okta by 154.4% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 10,362 shares of the company's stock worth $950,000 after acquiring an additional 6,289 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in Okta by 80.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 25,207 shares of the company's stock valued at $2,366,000 after purchasing an additional 11,250 shares in the last quarter. CreativeOne Wealth LLC raised its position in Okta by 10.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,868 shares of the company's stock valued at $263,000 after purchasing an additional 267 shares during the last quarter. Finally, Rosenblum Silverman Sutton S F Inc. CA raised its position in Okta by 4.8% in the 3rd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 31,046 shares of the company's stock valued at $2,847,000 after purchasing an additional 1,420 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Stock Down 2.4%

Shares of OKTA opened at $78.95 on Friday. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57. The firm has a market capitalization of $13.99 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 3.16 and a beta of 0.79. The stock's fifty day simple moving average is $84.48 and its 200-day simple moving average is $87.07.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company's revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its board has initiated a stock buyback program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 1,836 shares of Okta stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total transaction of $146,678.04. Following the completion of the sale, the insider owned 79,422 shares in the company, valued at $6,345,023.58. The trade was a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Robert Kelleher sold 2,409 shares of the business's stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the sale, the insider directly owned 11,266 shares of the company's stock, valued at approximately $950,850.40. This trade represents a 17.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,763 shares of company stock worth $3,419,336 in the last 90 days. Corporate insiders own 5.68% of the company's stock.

Wall Street Analyst Weigh In

OKTA has been the topic of several research analyst reports. Mizuho decreased their target price on Okta from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. Piper Sandler cut their price target on Okta from $100.00 to $82.00 and set a "neutral" rating for the company in a report on Thursday, March 5th. Oppenheimer reduced their price target on shares of Okta from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. Susquehanna decreased their price objective on shares of Okta from $105.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, December 3rd. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $134.00 price objective on shares of Okta in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.25.

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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