Okta, Inc. $OKTA Position Decreased by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,645 shares of the company’s stock after selling 5,813 shares during the quarter. California Public Employees Retirement System owned 0.16% of Okta worth $22,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kera Capital Partners Inc. lifted its position in shares of Okta by 18.4% during the 1st quarter. Kera Capital Partners Inc. now owns 6,394 shares of the company’s stock valued at $503,000 after acquiring an additional 993 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after purchasing an additional 322 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Okta by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 32,752 shares of the company’s stock valued at $2,576,000 after purchasing an additional 682 shares during the period. SteelPeak Wealth LLC increased its stake in Okta by 2.8% in the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock worth $407,000 after purchasing an additional 140 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on OKTA shares. Canaccord Genuity Group upped their price objective on shares of Okta from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Raymond James Financial downgraded shares of Okta from a “buy” rating to a “strong sell” rating in a research report on Monday, July 6th. Arete Research set a $127.00 price target on shares of Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. KeyCorp upped their price target on shares of Okta from $130.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group raised shares of Okta from a “buy” rating to a “buy” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.81.

Insider Buying and Selling at Okta

In related news, Director Shellye L. Archambeau sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares of the company’s stock, valued at approximately $781,320. The trade was a 21.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares in the company, valued at $3,028,920. This represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock worth $22,534,353 over the last quarter. Insiders own 4.61% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is being highlighted by multiple outlets as a strong momentum stock, suggesting investor interest remains high despite the pullback. Article Title
• Positive Sentiment: Analysts continue to point to Okta as a beneficiary of rising enterprise AI adoption, which is supporting demand for cybersecurity, identity protection, and zero-trust tools. Article Title
• Positive Sentiment: Recent commentary around the AI era of cybersecurity, including the OpenAI hack discussion, reinforces the broader theme that spending on security may rise alongside AI investment. Article Title
• Neutral Sentiment: Okta remains one of the more widely watched stocks on Zacks, and that attention may help keep trading volume and volatility elevated. Article Title
• Negative Sentiment: The recent drop appears tied to no fresh negative company announcement, making the move more consistent with a post-rally cooling-off period and broader software-sector caution. Article Title
• Negative Sentiment: Some market participants are also worried that enterprise tech budgets could shift toward AI infrastructure, which may weigh on software spending expectations across the sector. Article Title

Okta Stock Down 3.5%

OKTA stock opened at $136.69 on Thursday. The company has a 50 day moving average of $121.98 and a two-hundred day moving average of $95.28. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 99.05, a PEG ratio of 5.10 and a beta of 0.77. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $157.00.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the prior year, the business posted $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts anticipate that Okta, Inc. will post 1.75 EPS for the current year.

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.