62,969 Shares of Okta, Inc. $OKTA Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 62,969 shares of the company’s stock, valued at approximately $13,167,000.

Several other large investors also recently made changes to their positions in OKTA. Allspring Global Investments Holdings LLC raised its stake in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Okta by 114.3% during the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after purchasing an additional 397,951 shares during the period. Swedbank AB raised its stake in shares of Okta by 21.9% during the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after purchasing an additional 397,507 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of Okta during the second quarter valued at about $45,486,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Okta by 192.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock valued at $101,879,000 after purchasing an additional 320,849 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OKTA shares. DA Davidson increased their target price on shares of Okta from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Barclays boosted their price target on shares of Okta from $180.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Truist Financial upped their price target on shares of Okta from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Evercore reiterated an “outperform” rating and issued a $240.00 price objective on shares of Okta in a report on Thursday, September 24th. Finally, Roth Capital increased their price objective on shares of Okta from $155.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $202.38.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: S&P 500 inclusion could bring buying demand. Okta is set to replace Kenvue in the index on Nov. 4, prompting index funds and other passive investors to adjust holdings. The prospect of that demand has helped lift sentiment, although some of the buying may already be reflected in the share price. Article: Dear Okta Stock Fans, Mark Your Calendars for November 4
• Positive Sentiment: Broker coverage is presented as supportive. A Zacks article says broker recommendations suggest investing in OKTA, which may bolster sentiment, though analyst ratings are not a guarantee of future performance. Article: Brokers Suggest Investing in Okta
• Neutral Sentiment: Citi maintained a Hold rating and $215 price target. The analyst said the impact of the DHS incident appears contained, a reassuring assessment tempered by the unchanged Hold recommendation. Article: Okta Maintains $215 Price Target
• Neutral Sentiment: Third-quarter results are scheduled for Dec. 1. The date gives investors a coming checkpoint on Okta’s performance, but the announcement itself does not provide new financial results or guidance. Article: Okta to Announce Third Quarter Fiscal Year 2027 Financial Results
• Negative Sentiment: Recent trading has been volatile. Okta fell sharply in the prior session before the reported rebound; the cited coverage does not identify a specific company development behind that decline. Article: Okta Registers a Bigger Fall Than the Market

Okta Stock Up 2.6%

Shares of Okta stock opened at $189.68 on Wednesday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00. The firm has a market capitalization of $33.16 billion, a PE ratio of 114.27, a price-to-earnings-growth ratio of 5.75 and a beta of 0.74. The stock’s fifty day moving average is $194.95 and its 200-day moving average is $125.61.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter last year, the business posted $0.91 EPS. Okta’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. Analysts expect that Okta, Inc. will post 1.92 EPS for the current year.

Insider Transactions at Okta

In other news, insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the sale, the insider owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the sale, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. This represents a 84.28% 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 have sold a total of 137,766 shares of company stock valued at $23,927,112 over the last ninety days. Corporate insiders own 4.61% of the company’s stock.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.