Public Employees Retirement System of Ohio Invests $13.51 Million in Okta, Inc. $OKTA

Public Employees Retirement System of Ohio purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 99,009 shares of the company’s stock, valued at approximately $13,510,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Okta at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its stake in Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after acquiring an additional 218 shares during the period. SHP Wealth Management purchased a new position in shares of Okta during the fourth quarter valued at approximately $27,000. EFG International AG purchased a new position in shares of Okta during the fourth quarter valued at approximately $61,000. Assetmark Inc. lifted its position in Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in Okta by 378.3% during the third quarter. CIBC Private Wealth Group LLC now owns 727 shares of the company’s stock valued at $67,000 after purchasing an additional 575 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the sale, the insider owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the transaction, the chief financial officer directly owned 119,680 shares in the company, valued at $14,032,480. This represents a 35.20% 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. Over the last 90 days, insiders sold 165,347 shares of company stock valued at $21,827,342. 4.61% of the stock is owned by insiders.

Okta Stock Performance

NASDAQ OKTA opened at $166.23 on Monday. The business’s fifty day moving average is $141.34 and its 200 day moving average is $105.65. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $174.85. The company has a market capitalization of $28.89 billion, a PE ratio of 100.14, a price-to-earnings-growth ratio of 5.76 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS 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 business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. The business’s quarterly 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. On average, sell-side analysts forecast that Okta, Inc. will post 1.77 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on OKTA shares. Weiss Ratings raised shares of Okta from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Arete Research set a $127.00 price target on Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. Citigroup restated a “market outperform” rating on shares of Okta in a research note on Thursday. Needham & Company LLC lifted their price objective on Okta from $140.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Roth Capital reiterated a “buy” rating on shares of Okta in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $172.92.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

Okta Company 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.