Ilmarinen Mutual Pension Insurance Co Purchases 6,200 Shares of Okta, Inc. $OKTA

Ilmarinen Mutual Pension Insurance Co grew its position in Okta, Inc. (NASDAQ:OKTA) by 19.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,575 shares of the company’s stock after buying an additional 6,200 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Okta were worth $3,249,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Okta by 9.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after purchasing an additional 189,036 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 113.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after purchasing an additional 1,099,962 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of Okta by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,940,353 shares of the company’s stock worth $167,861,000 after purchasing an additional 28,155 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OKTA shares. Wolfe Research started coverage on shares of Okta in a research note on Thursday, April 16th. They issued an “outperform” rating for the company. Cantor Fitzgerald lifted their target price on shares of Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $134.00 target price on shares of Okta in a research note on Friday, March 6th. Scotiabank lifted their target price on shares of Okta from $80.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Seaport Research Partners cut Okta to a “neutral” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.86.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat consensus on both revenue and earnings, reporting $765 million in revenue and $0.91 EPS, while also raising full-year and next-quarter guidance above expectations. Article Title
• Positive Sentiment: Management highlighted accelerating demand for identity tools tied to AI agents, suggesting a new growth tailwind for Okta’s security platform. Article Title
• Positive Sentiment: A broad list of brokerages raised price targets after the report, including JPMorgan, Barclays, Morgan Stanley, BTIG, Needham, BMO, Truist, RBC, and others, reinforcing the bullish post-earnings setup. Article Title
• Positive Sentiment: Multiple reports said investors are rethinking the “SaaSpocalypse” narrative, with software stocks rebounding sharply as Okta’s results showed resilient demand and improving execution. Article Title

Okta Trading Up 30.1%

Shares of NASDAQ OKTA opened at $123.27 on Friday. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $124.79. The company has a 50 day simple moving average of $79.90 and a two-hundred day simple moving average of $82.97. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 3.69 and a beta of 0.59.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.16%. The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Analysts forecast that Okta, Inc. will post 1.61 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 1,054 shares of Okta stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $84,320.00. Following the completion of the sale, the insider directly owned 48,448 shares in the company, valued at approximately $3,875,840. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director directly owned 9,192 shares of the company’s stock, valued at approximately $781,320. This trade represents a 21.38% 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. In the last 90 days, insiders sold 70,884 shares of company stock worth $5,625,648. Corporate insiders own 4.61% 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.