Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in Okta, Inc. $OKTA

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Okta, Inc. (NASDAQ:OKTA) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,254 shares of the company’s stock after acquiring an additional 11,362 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Okta worth $14,621,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of Okta by 68.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 96,217 shares of the company’s stock valued at $10,124,000 after purchasing an additional 39,189 shares during the period. Allworth Financial LP grew its position in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after buying an additional 92 shares during the period. Stephens Inc. AR increased its holdings in Okta by 3.7% in the first quarter. Stephens Inc. AR now owns 3,417 shares of the company’s stock valued at $360,000 after buying an additional 121 shares in the last quarter. CWM LLC increased its holdings in Okta by 81.0% in the first quarter. CWM LLC now owns 28,630 shares of the company’s stock valued at $3,012,000 after buying an additional 12,809 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Okta by 45.9% in the first quarter. Signaturefd LLC now owns 5,149 shares of the company’s stock worth $542,000 after acquiring an additional 1,621 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $84.69 on Thursday. Okta, Inc. has a 1 year low of $71.84 and a 1 year high of $127.57. The firm has a market capitalization of $14.83 billion, a PE ratio of 99.64, a P/E/G ratio of 4.20 and a beta of 0.84. The business’s 50 day moving average price is $90.09 and its 200-day moving average price is $97.88.

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

Wall Street Analyst Weigh In

OKTA has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded Okta from a “hold” rating to a “buy” rating and raised their target price for the company from $115.00 to $120.00 in a research report on Tuesday, August 26th. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Guggenheim reaffirmed a “buy” rating and set a $138.00 target price on shares of Okta in a research note on Wednesday, August 27th. Finally, BMO Capital Markets dropped their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 2,410 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider directly owned 9,174 shares in the company, valued at $841,531.02. This trade represents a 20.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 63,657 shares of company stock valued at $5,898,754. Corporate insiders own 5.68% of the company’s stock.

Okta Company Profile

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.