Allspring Global Investments Holdings LLC Increases Position in Okta, Inc. $OKTA

Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 71.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,553,091 shares of the company’s stock after buying an additional 1,485,963 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Okta were worth $281,209,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Elevation Wealth Partners LLC increased its position in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the period. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth approximately $27,000. Torren Management LLC acquired a new stake in Okta during the 4th quarter worth approximately $32,000. Spire Wealth Management lifted its position in Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the period. Finally, Board of the Pension Protection Fund purchased a new position in shares of Okta in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Capital One upgraded Okta (OKTA), which can signal improving Wall Street confidence in the company’s outlook and help support the stock. Palo Alto Networks, Okta upgraded at Capital One
• Positive Sentiment: Okta won partner recognition tied to its identity security push in cloud and AI, reinforcing its growth narrative in high-demand enterprise security markets. Okta (OKTA) Wins Partner Recognition For Identity Security Push In Cloud And AI
• Positive Sentiment: Okta was highlighted in broader cybersecurity coverage as a beneficiary of rising AI-driven security demand and increased enterprise spending on cyber defense. Cybersecurity Space is Buzzing on Recent Catalysts: 3 Top Picks
• Positive Sentiment: Okta also appeared in an article favoring cybersecurity stocks as AI changes tech defense, suggesting the company remains a relevant long-term play in a favored sector. Top Cybersecurity Stocks to Buy Now as AI Changes Tech Defense
• Neutral Sentiment: Okta was mentioned among stocks moving after an IBM warning, but the headline appears to reflect sector rotation rather than a company-specific problem. Dell, HP Enterprise, and Okta are among the group seeing gains after IBM warning
• Negative Sentiment: One market note said Okta may be fully priced after a 114% three-year run, which could temper enthusiasm if investors worry the upside is already reflected in the valuation. Okta (OKTA) Stock May Be Fully Priced Following Its 114% Run

Okta Stock Down 2.1%

NASDAQ:OKTA opened at $147.74 on Friday. The company has a market capitalization of $25.68 billion, a PE ratio of 107.06, a price-to-earnings-growth ratio of 5.43 and a beta of 0.77. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $157.00. The stock has a fifty day simple moving average of $116.91 and a 200-day simple moving average of $93.68.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. 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 analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 68,936 shares of Okta stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the transaction, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the stock in a transaction 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 directly owned 9,192 shares of the company’s stock, valued at $781,320. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 174,224 shares of company stock worth $22,534,353. 4.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OKTA. Truist Financial boosted their target price on Okta from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 29th. DA Davidson increased their price target on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 29th. HC Wainwright initiated coverage on shares of Okta in a research report on Monday, July 6th. They issued a “buy” rating on the stock. Seaport Research Partners cut shares of Okta to a “neutral” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

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.