DNB Asset Management Boosts Okta Holdings by 134%

Institutional investor increases stake in cybersecurity firm Okta, Inc. amid market volatility

Published on Feb. 28, 2026

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According to a recent SEC filing, DNB Asset Management AS raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 134.4% in the 3rd quarter. The fund now owns 374,569 shares of the company's stock, worth $34.3 million at the end of the reporting period.

Why it matters

Okta is a leading provider of identity and access management solutions, a fast-growing segment of the cybersecurity market. This significant increase in ownership by a major institutional investor signals confidence in Okta's long-term prospects, even as the stock has faced volatility amid broader market conditions.

The details

DNB Asset Management, a Norwegian asset management firm, added 214,780 shares of Okta to its portfolio during the 3rd quarter. This increased its total stake in the company to 374,569 shares, or 0.21% of Okta's outstanding stock. The move comes as Okta's share price has fluctuated, falling from a 52-week high of $127.57 to around $72.50 as of the latest trading session.

  • DNB Asset Management filed its 13F report disclosing the increased Okta holdings on February 28, 2026.
  • The 134.4% increase in Okta shares occurred during the 3rd quarter of 2025.

The players

DNB Asset Management AS

A Norwegian asset management firm that oversees over $300 billion in client assets.

Okta, Inc.

A leading provider of cloud-based identity and access management solutions for enterprises.

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What they’re saying

“We must continue to have confidence in Okta's long-term growth potential, despite the near-term market volatility.”

— Trond Omdal, Head of Equities, DNB Asset Management (MarketBeat)

What’s next

Investors will be closely watching Okta's upcoming quarterly earnings report to gauge the company's performance and outlook amid the current market environment.

The takeaway

This significant increase in ownership by a major institutional investor like DNB Asset Management underscores the continued confidence in Okta's long-term growth potential, even as the stock has faced near-term volatility alongside the broader market.