South Dakota Investment Council Buys 4,777 Shares of Okta, Inc. $OKTA

South Dakota Investment Council lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 11.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,783 shares of the company’s stock after purchasing an additional 4,777 shares during the quarter. South Dakota Investment Council’s holdings in Okta were worth $3,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKTA. SHP Wealth Management bought a new position in Okta in the 4th quarter valued at approximately $27,000. Torren Management LLC bought a new stake in shares of Okta during the fourth quarter worth $32,000. Spire Wealth Management grew its stake in shares of Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Okta during the fourth quarter worth $56,000. Finally, Assetmark Inc. increased its holdings in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after buying an additional 322 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the sale, the director directly owned 9,192 shares in the company, valued at $781,320. This represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 the 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 directly owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This represents a 16.86% 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. Insiders sold a total of 174,224 shares of company stock valued at $22,534,353 over the last three months. Insiders own 4.61% of the company’s stock.

Okta Trading Up 2.6%

Shares of OKTA opened at $140.42 on Friday. The company has a market capitalization of $24.41 billion, a PE ratio of 101.75, a PEG ratio of 4.92 and a beta of 0.77. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $157.00. The stock’s 50-day moving average price is $128.19 and its two-hundred day moving average price is $97.28.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm 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 business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $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. Equities research analysts predict that Okta, Inc. will post 1.75 EPS for the current fiscal year.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Expanded identity-threat platform: Okta plans to integrate Permiso’s identity-risk signals, behavioral analytics and threat-detection technology into its identity-management platform. The acquisition could strengthen Okta’s ability to detect and respond to compromised human, machine and AI-agent identities. Okta Inks Permiso Purchase to Expand Identity Threat Defense
• Positive Sentiment: Exposure to AI-security demand: Permiso’s capabilities address enterprises’ growing need to secure AI agents and other non-human identities operating across cloud environments. Investors may view the transaction as a way for Okta to capture additional long-term growth as autonomous software adoption expands. Okta buys AI security startup Permiso
• Neutral Sentiment: Transaction details remain limited: The acquisition is expected to close in the third quarter, while a report citing a source puts the purchase price at approximately $200 million. Okta has not publicly disclosed full financial terms, so investors will monitor the deal’s effect on expenses, growth and profitability. Okta buys AI security startup Permiso
• Positive Sentiment: Recent operating momentum supports sentiment: Okta’s latest reported quarter exceeded analyst expectations for earnings and revenue, with revenue up 11.2% year over year. That performance provides a supportive backdrop for the Permiso announcement, although the stock’s elevated valuation leaves less room for execution disappointments.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OKTA shares. Needham & Company LLC raised their price objective on Okta from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Okta in a report on Friday, May 29th. Wells Fargo & Company lifted their price target on Okta from $100.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Mizuho cut Okta from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $125.00 in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group raised Okta from a “buy” rating to a “buy” rating in a research note on Monday, July 6th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.81.

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.