Sei Investments Co. boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 50.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 365,265 shares of the company's stock after purchasing an additional 122,658 shares during the period. Sei Investments Co. owned about 0.21% of Okta worth $28,750,000 as of its most recent SEC filing.

• Okta’s AI Moment May Be Bigger Than Investors Realize

Other large investors have also made changes to their positions in the company. Spire Wealth Management lifted its stake in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company's stock worth $44,000 after purchasing an additional 119 shares during the period. SteelPeak Wealth LLC grew its position in Okta by 2.8% during the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company's stock valued at $407,000 after buying an additional 140 shares during the period. Utah Retirement Systems grew its position in Okta by 0.6% during the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company's stock valued at $2,473,000 after buying an additional 163 shares during the period. Kestra Advisory Services LLC increased its holdings in Okta by 1.7% during the fourth quarter. Kestra Advisory Services LLC now owns 9,685 shares of the company's stock valued at $837,000 after buying an additional 166 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Okta by 3.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,745 shares of the company's stock valued at $497,000 after buying an additional 173 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 24,971 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the completion of the sale, the insider owned 23,477 shares in the company, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This trade represents a 16.86% 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. Over the last ninety days, insiders sold 174,224 shares of company stock valued at $22,534,353. Insiders own 4.61% of the company's stock.

Okta Price Performance

• Cybersecurity Earnings: 1 AI Standout and 2 Stocks Under Pressure

Shares of NASDAQ OKTA opened at $137.43 on Tuesday. The stock has a market cap of $23.89 billion, a PE ratio of 99.59, a price-to-earnings-growth ratio of 4.98 and a beta of 0.77. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00. The firm has a fifty day moving average price of $125.20 and a 200-day moving average price of $96.34.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to analysts' expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. 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 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

• Okta and CrowdStrike Could Be the Backbone of AI Security

Several research analysts have recently weighed in on OKTA shares. The Goldman Sachs Group started coverage on shares of Okta in a research note on Monday, July 6th. They set a "buy" rating on the stock. Needham & Company LLC upped their price objective on Okta from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. DA Davidson raised their target price on Okta from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Mizuho downgraded Okta from an "outperform" rating to a "neutral" rating and lifted their target price for the company from $110.00 to $125.00 in a research report on Tuesday, June 2nd. Finally, Oppenheimer boosted their price target on Okta from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and an average target price of $121.81.

Read Our Latest Research Report on OKTA

Okta Profile

(Free Report)

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.

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