Dimensional Fund Advisors LP Has $119.15 Million Holdings in Okta, Inc. $OKTA

Dimensional Fund Advisors LP lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,299,021 shares of the company’s stock after purchasing an additional 144,958 shares during the quarter. Dimensional Fund Advisors LP owned 0.74% of Okta worth $119,151,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OKTA. Norges Bank bought a new stake in Okta during the 2nd quarter worth about $211,923,000. Vanguard Group Inc. raised its holdings in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Okta by 20.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock valued at $445,432,000 after purchasing an additional 755,709 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Okta in the second quarter valued at approximately $73,866,000. Finally, Victory Capital Management Inc. increased its holdings in Okta by 816.2% during the third quarter. Victory Capital Management Inc. now owns 641,382 shares of the company’s stock worth $58,815,000 after buying an additional 571,381 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 1.6%

Shares of NASDAQ:OKTA opened at $80.85 on Thursday. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57. The business has a 50 day moving average of $84.63 and a 200-day moving average of $87.13. The stock has a market cap of $14.33 billion, a PE ratio of 61.72, a P/E/G ratio of 3.28 and a beta of 0.79.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

OKTA has been the topic of several recent analyst reports. Mizuho lowered their price objective on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. TD Cowen dropped their price objective on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Jefferies Financial Group cut their price objective on Okta from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Guggenheim reiterated a “buy” rating and set a $138.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Finally, Needham & Company LLC decreased their target price on Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,836 shares of Okta stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $83.47, for a total transaction of $153,250.92. Following the completion of the sale, the insider owned 36,328 shares of the company’s stock, valued at $3,032,298.16. This trade represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,927 shares of company stock worth $3,272,658 over the last ninety days. Corporate insiders own 5.68% of the company’s stock.

Okta Profile

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.