UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $289.23 Million Holdings in Okta, Inc. $OKTA

Key Points

• UBS Asset Management increased its stake in Okta, Inc. by 76.3% in Q1, owning nearly 2.75 million shares valued at approximately $289 million.
• Okta's stock price is currently down 3.9%, with recent trading around $90.21 and a twelve-month high of $127.57.
• Recent analyst reports indicate a consensus rating of Moderate Buy for Okta, with a $118.25 average target price from 22 analysts.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 76.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,748,847 shares of the company's stock after purchasing an additional 1,189,222 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.58% of Okta worth $289,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OKTA. Vanguard Group Inc. raised its position in Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after acquiring an additional 582,956 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Point72 Asset Management L.P. lifted its stake in Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the last quarter. Ameriprise Financial Inc. increased its position in Okta by 5.2% during the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock worth $211,982,000 after buying an additional 100,411 shares during the last quarter. Finally, Alkeon Capital Management LLC bought a new stake in Okta in the first quarter valued at approximately $199,918,000. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on OKTA shares. Citigroup reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Barclays upped their price objective on shares of Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Jefferies Financial Group raised their target price on shares of Okta from $100.00 to $105.00 and gave the stock a "hold" rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Finally, Westpark Capital reissued a "buy" rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.25.

Okta Trading Down 1.8%

NASDAQ OKTA traded down $1.62 during trading on Friday, reaching $90.34. The company's stock had a trading volume of 1,810,006 shares, compared to its average volume of 4,403,944. The firm has a 50 day moving average price of $93.45 and a 200 day moving average price of $102.07. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 106.28, a price-to-earnings-growth ratio of 4.48 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm 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 analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the business'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 directly owned 2,832 shares in the company, valued at $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the sale, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,594 shares of company stock worth $8,382,790. 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.