Union Bancaire Privee UBP SA Lowers Stock Holdings in Okta, Inc. $OKTA

Key Points

• Union Bancaire Privee UBP SA reduced its Okta stake by 18.6% in the first quarter, selling 29,216 shares and ending with 128,179 shares worth about $10.1 million.
• Several analysts turned more bullish on Okta, with firms like Canaccord, BMO, KeyCorp, and RBC raising price targets. The stock’s consensus rating remains Moderate Buy with an average target of $115.97.
• Okta’s latest quarter beat expectations on both earnings and revenue, with revenue rising 11.2% year over year. The company also reiterated strong forward guidance, while recent insider sales and mixed analyst commentary keep some caution in the background.

Union Bancaire Privee UBP SA cut its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 128,179 shares of the company's stock after selling 29,216 shares during the period. Union Bancaire Privee UBP SA owned 0.07% of Okta worth $10,089,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Spire Wealth Management boosted its stake in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company's stock worth $44,000 after buying an additional 119 shares during the last quarter. Allworth Financial LP grew its holdings in Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company's stock valued at $206,000 after buying an additional 135 shares during the period. Choreo LLC increased its stake in shares of Okta by 2.0% during the 3rd quarter. Choreo LLC now owns 7,239 shares of the company's stock valued at $664,000 after acquiring an additional 140 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Okta by 0.6% during the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company's stock valued at $2,473,000 after acquiring an additional 163 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Okta by 1.7% during the 4th quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company's stock worth $837,000 after acquiring an additional 166 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

OKTA has been the topic of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Okta from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. BMO Capital Markets upped their price target on shares of Okta from $95.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Stephens cut their price target on shares of Okta from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. KeyCorp lifted their price target on shares of Okta from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of Okta from $108.00 to $122.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $115.97.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $136 from $119 and kept a Buy rating, signaling confidence that shares can still run further after the recent rally.
• Positive Sentiment: Needham also lifted its target to $140 from $120 and reiterated Buy, reinforcing the view that Okta’s AI-related monetization and security platform remain strong growth drivers.
• Positive Sentiment: Okta’s latest quarter beat expectations on both earnings and revenue, with revenue up 11.2% year over year, which continues to support bullish sentiment. Okta earnings and stock information
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a development that could deepen its role in enterprise AI security. Okta expands Cross App Access ecosystem
• Neutral Sentiment: Analyst coverage is mixed overall, with some firms raising targets while others remain cautious, leaving the broader rating picture constructive but not unanimous. Analysts have conflicting sentiments on Okta
• Neutral Sentiment: Shares are drawing attention as a “trending stock,” which can help trading activity but does not change the underlying fundamentals. Okta trending stock coverage
• Neutral Sentiment: Larissa Schwartz sold shares in a pre-arranged 10b5-1 plan, which is routine, though investors often view insider selling cautiously. Larissa Schwartz insider sale
• Negative Sentiment: One Seeking Alpha note downgraded Okta and warned that enthusiasm around “agentic AI” monetization may be overdone, raising the risk of a valuation correction.

Okta Stock Up 4.2%

Okta stock opened at $124.28 on Friday. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $142.35. The firm has a fifty day moving average of $97.94 and a 200-day moving average of $88.30. The firm has a market capitalization of $21.60 billion, a P/E ratio of 90.06, a PEG ratio of 4.29 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter last year, the firm posted $0.86 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts expect that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the sale, the insider owned 25,241 shares in the company, valued at approximately $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 114,074 shares of company stock valued at $13,128,242. Company insiders own 4.61% of the company's stock.

About Okta

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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