Swedbank AB Buys 397,507 Shares of Okta, Inc. $OKTA

Swedbank AB increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,216,588 shares of the company’s stock after acquiring an additional 397,507 shares during the quarter. Swedbank AB’s holdings in Okta were worth $174,468,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC lifted its holdings in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Okta during the fourth quarter worth $27,000. Torren Management LLC acquired a new position in Okta in the 4th quarter worth $32,000. Spire Wealth Management raised its stake in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in shares of Okta in the fourth quarter valued at about $52,000. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the sale, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 25,241 shares of the company’s stock, valued at $3,028,920. The trade was a 8.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,288 shares of company stock worth $12,426,956 in the last quarter. 4.61% of the stock is owned by insiders.

Okta Stock Up 0.8%

Shares of NASDAQ:OKTA traded up $1.23 during trading on Tuesday, reaching $149.82. 827,936 shares of the company’s stock traded hands, compared to its average volume of 3,648,290. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $151.50. The company has a 50-day simple moving average of $105.68 and a 200-day simple moving average of $90.43. The firm has a market cap of $26.04 billion, a PE ratio of 108.54, a P/E/G ratio of 5.09 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm posted $0.86 earnings per share. The company’s revenue 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, equities research analysts forecast that Okta, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. KeyCorp increased their price objective on shares of Okta from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. HC Wainwright assumed coverage on Okta in a report on Monday. They set a “buy” rating on the stock. BTIG Research raised their price target on Okta from $119.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Citigroup reissued an “outperform” rating on shares of Okta in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.69.

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.