Investment Management Corp of Ontario Cuts Position in Okta, Inc. $OKTA

Investment Management Corp of Ontario trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 39.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,899 shares of the company’s stock after selling 12,304 shares during the period. Investment Management Corp of Ontario’s holdings in Okta were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new position in shares of Okta in the 2nd quarter worth $26,000. Kiker Wealth Management LLC lifted its stake in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Okta by 126.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Okta by 572.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock valued at $54,000 after purchasing an additional 458 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 2,410 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the transaction, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,293 shares of company stock worth $6,124,092 over the last quarter. Insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. Roth Capital restated a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Mizuho reduced their target price on shares of Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Cowen reaffirmed a “hold” rating on shares of Okta in a research note on Wednesday, December 3rd. Westpark Capital reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Barclays reduced their price objective on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 18th. Twenty-three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.91.

Okta Price Performance

Shares of OKTA opened at $89.84 on Thursday. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 82.42, a PEG ratio of 4.14 and a beta of 0.77. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57. The company has a 50-day moving average of $86.53 and a 200 day moving average of $92.73.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta Company Profile

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.