Jupiter Asset Management Ltd. Has $44.48 Million Stock Position in Okta, Inc. $OKTA

Jupiter Asset Management Ltd. raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 2,982.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,449 shares of the company’s stock after buying an additional 497,758 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Okta were worth $44,484,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OKTA. Spire Wealth Management grew its stake in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. Allworth Financial LP raised its stake in Okta by 6.4% during the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after purchasing an additional 135 shares during the last quarter. Choreo LLC raised its stake in Okta by 2.0% during the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after purchasing an additional 140 shares during the last quarter. Raiffeisen Bank International AG boosted its holdings in Okta by 3.9% in the 3rd quarter. Raiffeisen Bank International AG now owns 4,369 shares of the company’s stock valued at $410,000 after purchasing an additional 166 shares during the period. Finally, Westpac Banking Corp grew its position in Okta by 10.6% in the 3rd quarter. Westpac Banking Corp now owns 1,851 shares of the company’s stock worth $170,000 after purchasing an additional 177 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $81.01, for a total transaction of $912,415.63. Following the completion of the sale, the chief executive officer owned 97,083 shares in the company, valued at $7,864,693.83. This trade represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Schellhase purchased 3,712 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the acquisition, the director directly owned 3,712 shares in the company, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 70,884 shares of company stock valued at $5,625,648. Insiders own 4.61% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

Okta Stock Up 5.8%

NASDAQ:OKTA opened at $94.72 on Friday. The firm has a market capitalization of $16.76 billion, a PE ratio of 72.31, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $107.84. The firm has a 50-day moving average price of $79.01 and a 200 day moving average price of $82.69.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period in the prior year, the company posted $0.86 EPS. 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, research analysts expect that Okta, Inc. will post 1.61 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on OKTA. Needham & Company LLC dropped their price objective on shares of Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $134.00 target price on shares of Okta in a research report on Friday, March 6th. Piper Sandler lowered their price target on Okta from $100.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on Okta from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

About Okta

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.