River Street Advisors LLC Purchases New Position in Okta, Inc. $OKTA

River Street Advisors LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,555 shares of the company’s stock, valued at approximately $437,000.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the period. Geode Capital Management LLC increased its position in Okta by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after buying an additional 57,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after buying an additional 69,653 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Okta by 9.3% during the third quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after buying an additional 189,036 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 113.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock valued at $172,895,000 after acquiring an additional 1,099,962 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the transaction, the director owned 9,192 shares in the company, valued at approximately $781,320. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the transaction, the chief financial officer owned 119,680 shares of the company’s stock, valued at $14,032,480. This trade represents a 35.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,074 shares of company stock worth $13,128,242 in the last ninety days. 4.61% of the stock is currently owned by corporate insiders.

Okta Stock Up 4.2%

Shares of NASDAQ OKTA opened at $124.28 on Friday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35. The firm has a market cap of $21.60 billion, a PE ratio of 90.06, a P/E/G ratio of 4.29 and a beta of 0.80. The company’s fifty day simple moving average is $97.94 and its 200 day simple moving average is $88.30.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. 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 analysts predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on shares of Okta from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson lifted their target price on Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Stephens decreased their target price on shares of Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Scotiabank upped their price objective on Okta from $80.00 to $105.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Finally, Wall Street Zen cut shares of Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.97.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $136 from $119 and kept a Buy rating, signaling confidence that shares can still run further after the recent rally.
• Positive Sentiment: Needham also lifted its target to $140 from $120 and reiterated Buy, reinforcing the view that Okta’s AI-related monetization and security platform remain strong growth drivers.
• Positive Sentiment: Okta’s latest quarter beat expectations on both earnings and revenue, with revenue up 11.2% year over year, which continues to support bullish sentiment. Okta earnings and stock information
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a development that could deepen its role in enterprise AI security. Okta expands Cross App Access ecosystem
• Neutral Sentiment: Analyst coverage is mixed overall, with some firms raising targets while others remain cautious, leaving the broader rating picture constructive but not unanimous. Analysts have conflicting sentiments on Okta
• Neutral Sentiment: Shares are drawing attention as a “trending stock,” which can help trading activity but does not change the underlying fundamentals. Okta trending stock coverage
• Neutral Sentiment: Larissa Schwartz sold shares in a pre-arranged 10b5-1 plan, which is routine, though investors often view insider selling cautiously. Larissa Schwartz insider sale
• Negative Sentiment: One Seeking Alpha note downgraded Okta and warned that enthusiasm around “agentic AI” monetization may be overdone, raising the risk of a valuation correction.

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.