Raiffeisen Bank International AG Lowers Stock Holdings in Okta, Inc. $OKTA

Raiffeisen Bank International AG lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 97.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218 shares of the company’s stock after selling 9,510 shares during the period. Raiffeisen Bank International AG’s holdings in Okta were worth $29,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Okta by 279.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Assetmark Inc. raised its stake in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after purchasing an additional 322 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Okta by 1,265.5% during the first quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock worth $59,000 after purchasing an additional 696 shares during the last quarter. Finally, EFG International AG purchased a new stake in shares of Okta during the fourth quarter worth approximately $61,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OKTA shares. DA Davidson lifted their price objective on shares of Okta from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Truist Financial restated a “buy” rating and set a $200.00 price objective (up from $165.00) on shares of Okta in a research report on Thursday, August 27th. Stifel Nicolaus set a $180.00 target price on shares of Okta in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on shares of Okta from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Okta from $115.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $172.92.

Insider Transactions at Okta

In other Okta news, CEO Todd McKinnon sold 68,936 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares in the company, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares in the company, valued at $3,028,920. This trade represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 155,376 shares of company stock worth $23,734,135 over the last quarter. Insiders own 4.61% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst estimates increased: Scotiabank reportedly raised its earnings estimates for Okta, adding support to the bullish outlook following the company’s better-than-expected quarterly results. Scotiabank Brokers Increase Earnings Estimates for Okta
• Positive Sentiment: Momentum remains favorable: Zacks highlighted Okta as a strong long-term momentum stock, reflecting its improving earnings performance, revenue growth and favorable price trends. The company recently reported revenue of $805 million, up 10.6% year over year, and adjusted EPS of $1.05 versus the $0.96 consensus estimate. Why Okta Is a Top Momentum Stock for the Long-Term
• Positive Sentiment: AI-agent opportunity strengthens the investment case: Commentary suggests Okta could benefit as businesses require identity, access and security controls for AI agents and other automated systems. This supports the company’s longer-term growth narrative. Okta AI Agents Strengthen My Thesis, But Valuation Is Catching Up
• Neutral Sentiment: Identity-security industry discussion: A comparison of Okta’s and Microsoft’s approaches underscores the growing importance of identity security, but does not identify a specific new contract or near-term financial catalyst for OKTA. What Okta and Microsoft’s Approaches Tell Us About the Future of Identity Security
• Negative Sentiment: Valuation is becoming a concern: With shares trading near their 52-week high and at roughly 103 times earnings, bullish coverage cautions that expectations may already reflect much of Okta’s growth potential. Why Okta Is a Top Momentum Stock for the Long Term
• Negative Sentiment: CFO insider selling: CFO Brett Tighe sold a combined 80,000 Okta shares for approximately $12.9 million. Both transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but the scale of the sales could weigh on sentiment. Okta CFO SEC Form 4 Filing

Okta Price Performance

Shares of OKTA opened at $170.60 on Monday. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $174.85. The company has a 50-day simple moving average of $146.29 and a 200-day simple moving average of $108.52. The company has a market capitalization of $29.82 billion, a PE ratio of 102.77, a P/E/G ratio of 5.31 and a beta of 0.79.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

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.