Tredje AP fonden Purchases 74,424 Shares of Okta, Inc. $OKTA

Tredje AP fonden lifted its position in Okta, Inc. (NASDAQ:OKTA) by 19.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 465,635 shares of the company’s stock after buying an additional 74,424 shares during the period. Tredje AP fonden’s holdings in Okta were worth $42,699,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Root Financial Partners LLC bought a new stake in Okta during the 3rd quarter valued at $26,000. Promus Capital LLC purchased a new position in Okta in the second quarter valued at about $27,000. Cullen Frost Bankers Inc. raised its holdings in Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of Okta during the third quarter valued at about $40,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 9.2%

Okta stock opened at $74.29 on Friday. The stock has a 50-day moving average price of $88.12 and a 200 day moving average price of $88.63. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 68.16, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. Okta, Inc. has a 52 week low of $73.74 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. During the same period last year, the firm posted $0.67 EPS. Okta’s revenue for the quarter was up 11.6% compared to the same quarter last year. 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 anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta announced that its board has initiated a stock buyback program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 8,370 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $90.19, for a total value of $754,890.30. Following the completion of the transaction, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. The trade was a 42.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider owned 38,164 shares in the company, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 37,245 shares of company stock valued at $3,385,624. Company insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent analyst reports. KeyCorp reduced their price objective on shares of Okta from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday. Susquehanna reduced their price target on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Okta in a report on Friday, December 12th. Royal Bank Of Canada upped their target price on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, DA Davidson reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday, December 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and an average price target of $112.56.

About Okta

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.