BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Position in Okta, Inc. $OKTA

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,296 shares of the company’s stock after purchasing an additional 9,118 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.07% of Okta worth $11,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in Okta during the third quarter valued at approximately $26,000. Promus Capital LLC bought a new stake in Okta in the 2nd quarter worth approximately $27,000. Cullen Frost Bankers Inc. raised its holdings in shares of Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after acquiring an additional 193 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of Okta during the 3rd quarter valued at approximately $40,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research reports. BTIG Research reduced their price target on shares of Okta from $142.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Morgan Stanley dropped their price objective on shares of Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Stephens upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $97.00 to $120.00 in a research report on Wednesday, January 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $120.00 price target on shares of Okta in a report on Wednesday, December 3rd. Finally, Berenberg Bank assumed coverage on Okta in a research report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price target for the company. Twenty-five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.56.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $81.80 on Friday. Okta, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 75.05, a PEG ratio of 3.30 and a beta of 0.77. The business’s 50 day moving average price is $88.44 and its 200-day moving average price is $88.79.

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

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

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 8,370 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 11,266 shares in the company, valued at approximately $1,016,080.54. The trade was a 42.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is currently owned by corporate insiders.

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.