Tredje AP fonden Increases Holdings in Okta, Inc. $OKTA

Tredje AP fonden raised its position in Okta, Inc. (NASDAQ:OKTA) by 19.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 465,635 shares of the company’s stock after acquiring an additional 74,424 shares during the quarter. Tredje AP fonden owned approximately 0.27% of Okta worth $42,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Okta during the third quarter valued at about $26,000. Promus Capital LLC bought a new position in shares of Okta during the 2nd quarter valued at approximately $27,000. Cullen Frost Bankers Inc. increased its holdings in Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. bought a new stake in Okta during the 3rd quarter worth approximately $40,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Down 9.2%

OKTA stock opened at $74.29 on Friday. Okta, Inc. has a 52 week low of $73.74 and a 52 week high of $127.57. The firm has a market capitalization of $13.17 billion, a P/E ratio of 68.16, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. The company has a fifty day simple moving average of $88.12 and a two-hundred day simple moving average of $88.63.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Okta announced that its Board of Directors has initiated a share repurchase plan on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on OKTA shares. Berenberg Bank began coverage on shares of Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Okta in a report on Friday, December 12th. Piper Sandler boosted their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. The Goldman Sachs Group cut their target price on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Finally, KeyCorp decreased their target price on Okta from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday. Twenty-five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.56.

Insider Activity

In related news, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $84.40, for a total transaction of $203,319.60. Following the completion of the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. The trade was a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,245 shares of company stock worth $3,385,624 over the last 90 days. Insiders own 5.68% of the company’s stock.

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.