Okta, Inc. $OKTA Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in Okta, Inc. (NASDAQ:OKTA) by 18.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,505 shares of the company’s stock after acquiring an additional 42,395 shares during the period. Federated Hermes Inc.’s holdings in Okta were worth $24,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Okta in the 2nd quarter valued at about $211,923,000. Vanguard Group Inc. increased its stake in shares of Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after buying an additional 935,364 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Okta by 20.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock valued at $445,432,000 after acquiring an additional 755,709 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Okta in the second quarter valued at approximately $73,866,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Okta by 122.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 967,166 shares of the company’s stock worth $88,679,000 after acquiring an additional 531,800 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Performance

NASDAQ OKTA opened at $84.48 on Friday. The firm’s fifty day moving average is $88.12 and its two-hundred day moving average is $89.84. Okta, Inc. has a one year low of $75.05 and a one year high of $127.57. The firm has a market cap of $14.97 billion, a PE ratio of 77.50, a P/E/G ratio of 4.01 and a beta of 0.76.

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

Okta announced that its Board of Directors has approved a share repurchase plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OKTA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. BMO Capital Markets dropped their target price on Okta from $112.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday, December 3rd. Jefferies Financial Group raised Okta from a “hold” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $125.00 in a report on Tuesday, December 16th. Royal Bank Of Canada upped their price objective on Okta from $97.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Finally, Piper Sandler increased their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Twenty-five equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.88.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $84.40, for a total value 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. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. The trade was a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,727 shares of company stock valued at $3,344,746 over the last 90 days. 5.68% of the stock is owned by corporate insiders.

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.