Lansforsakringar Fondforvaltning AB publ Has $5.18 Million Stock Position in Okta, Inc. $OKTA

Lansforsakringar Fondforvaltning AB publ raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 20.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,537 shares of the company’s stock after acquiring an additional 9,693 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Okta were worth $5,184,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OKTA. Integrated Wealth Concepts LLC bought a new stake in shares of Okta in the 1st quarter valued at $225,000. NewEdge Advisors LLC increased its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after purchasing an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Okta in the second quarter valued at $244,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Okta by 4.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 375,601 shares of the company’s stock valued at $37,549,000 after purchasing an additional 14,674 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Okta by 314.2% during the 2nd quarter. AlphaQuest LLC now owns 2,307 shares of the company’s stock worth $231,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Robert Kelleher sold 8,370 shares of Okta stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the transaction, the insider directly owned 11,266 shares in the company, valued at approximately $1,016,080.54. This represents a 42.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,245 shares of company stock valued at $3,385,624 in the last three months. 5.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

OKTA has been the subject of a number of research analyst reports. Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Truist Financial reduced their price objective on Okta from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. DA Davidson reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Okta in a report on Thursday, December 4th. Finally, Roth Mkm reissued a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Twenty-five 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. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $112.06.

Okta Trading Up 2.3%

Shares of Okta stock opened at $71.14 on Wednesday. The company has a market capitalization of $12.61 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The stock has a fifty day simple moving average of $87.36 and a 200 day simple moving average of $88.20. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data 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 firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same period in the previous year, the firm earned $0.67 EPS. The business’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. On average, analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its Board of Directors has initiated a share repurchase plan on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.