SEB Asset Management AB Invests $2.74 Million in Okta, Inc. $OKTA

SEB Asset Management AB purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,814 shares of the company’s stock, valued at approximately $2,740,000.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Okta by 52.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Okta in the 4th quarter valued at approximately $3,122,000. Swedbank AB boosted its holdings in shares of Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after buying an additional 1,007,915 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Okta in the first quarter valued at $2,077,000. Finally, Torque Asset Management LLC grew its stake in shares of Okta by 40.5% in the fourth quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after buying an additional 83,337 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

NASDAQ:OKTA opened at $136.10 on Friday. The company has a market cap of $23.66 billion, a P/E ratio of 98.62, a P/E/G ratio of 4.91 and a beta of 0.77. The firm’s fifty day moving average price is $123.08 and its two-hundred day moving average price is $95.65. Okta, Inc. has a one year low of $62.66 and a one year high of $157.00.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter last year, the company posted $0.86 EPS. Okta’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. As a group, equities research analysts expect that Okta, Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKTA shares. DA Davidson upped their price target on shares of Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Susquehanna lifted their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Mizuho lowered shares of Okta from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Citigroup restated an “outperform” rating on shares of Okta in a research note on Friday, May 29th. Finally, Arete Research set a $127.00 target price on shares of Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued 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, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $121.81.

Insider Activity

In other news, Director Shellye L. Archambeau sold 2,500 shares of the business’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 transaction of $212,500.00. Following the completion of the sale, the director owned 9,192 shares in the company, valued at $781,320. The trade was 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 company’s 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 completion of the transaction, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. The trade was 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. Over the last three months, insiders sold 174,224 shares of company stock valued at $22,534,353. Company 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.