Federated Hermes Inc. Acquires 111,153 Shares of Okta, Inc. $OKTA

Federated Hermes Inc. increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 95.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 227,110 shares of the company’s stock after purchasing an additional 111,153 shares during the quarter. Federated Hermes Inc. owned 0.13% of Okta worth $22,704,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Okta by 3.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,598 shares of the company’s stock worth $694,000 after acquiring an additional 236 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Okta by 8.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,207,758 shares of the company’s stock worth $127,080,000 after purchasing an additional 92,242 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Okta in the 1st quarter worth $241,000. Deutsche Bank AG increased its holdings in Okta by 3.7% during the 1st quarter. Deutsche Bank AG now owns 226,272 shares of the company’s stock worth $23,808,000 after purchasing an additional 8,160 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Okta by 11.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 134,892 shares of the company’s stock valued at $14,193,000 after purchasing an additional 14,058 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Jonathan James Addison sold 6,091 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares of the company’s stock, valued at $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 8,522 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.62, for a total value of $789,307.64. Following the transaction, the insider directly owned 9,174 shares in the company, valued at $849,695.88. The trade was a 48.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 66,293 shares of company stock valued at $6,124,092. 5.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OKTA has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Bank of America restated an “underperform” rating and issued a $75.00 target price on shares of Okta in a research note on Wednesday, August 27th. Susquehanna decreased their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Berenberg Bank began coverage on shares of Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, UBS Group restated a “buy” rating on shares of Okta in a report on Thursday, December 4th. Twenty-three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.91.

Okta Trading Up 0.6%

Shares of OKTA opened at $87.79 on Wednesday. The company’s fifty day simple moving average is $86.57 and its 200 day simple moving average is $92.75. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 4.12 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.