South Dakota Investment Council Takes Position in Okta, Inc. $OKTA

South Dakota Investment Council bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,437 shares of the company’s stock, valued at approximately $2,843,000.

Several other institutional investors also recently bought and sold shares of OKTA. Amalgamated Bank grew its position in Okta by 2.9% during the 1st quarter. Amalgamated Bank now owns 9,704 shares of the company’s stock valued at $1,021,000 after purchasing an additional 273 shares during the last quarter. Private Trust Co. NA grew its position in Okta by 617.6% during the 1st quarter. Private Trust Co. NA now owns 897 shares of the company’s stock valued at $94,000 after purchasing an additional 772 shares during the last quarter. First Horizon Advisors Inc. grew its position in Okta by 18.9% during the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock valued at $71,000 after purchasing an additional 108 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Okta during the 1st quarter valued at about $2,521,000. Finally, IFM Investors Pty Ltd grew its position in Okta by 7.4% during the 1st quarter. IFM Investors Pty Ltd now owns 32,877 shares of the company’s stock valued at $3,459,000 after purchasing an additional 2,279 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 8,522 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total value of $789,307.64. Following the transaction, the insider owned 9,174 shares in the company, valued at $849,695.88. This represents a 48.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 63,657 shares of company stock worth $5,898,754. 5.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on OKTA shares. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Canaccord Genuity Group raised shares of Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Arete Research raised shares of Okta to a “strong sell” rating and set a $83.00 price target on the stock in a report on Monday, July 7th. Citigroup reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a report on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.94.

Okta Stock Down 0.5%

Shares of NASDAQ:OKTA opened at $91.08 on Tuesday. The firm’s 50 day moving average price is $90.90 and its 200-day moving average price is $98.47. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The stock has a market capitalization of $15.95 billion, a PE ratio of 107.15, a price-to-earnings-growth ratio of 4.49 and a beta of 0.84.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.