GFG Capital LLC Sells 9,345 Shares of Okta, Inc. $OKTA

GFG Capital LLC lessened its stake in Okta, Inc. (NASDAQ:OKTA) by 27.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,626 shares of the company’s stock after selling 9,345 shares during the quarter. Okta makes up about 1.2% of GFG Capital LLC’s holdings, making the stock its 23rd largest position. GFG Capital LLC’s holdings in Okta were worth $5,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after acquiring an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Okta by 28.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Swedbank AB lifted its position in Okta by 21.9% in the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after buying an additional 397,507 shares during the last quarter. Bank of America Corp DE boosted its stake in Okta by 0.4% in the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after buying an additional 6,533 shares in the last quarter. Finally, Senvest Management LLC grew its position in Okta by 54.5% during the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after acquiring an additional 292,900 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other Okta news, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 137,766 shares of company stock valued at $23,927,112. 4.61% of the stock is currently owned by insiders.

Okta Trading Down 10.2%

Shares of NASDAQ:OKTA opened at $187.26 on Friday. The stock has a 50 day moving average of $180.34 and a 200 day moving average of $133.98. The company has a market cap of $32.74 billion, a PE ratio of 112.81, a price-to-earnings-growth ratio of 6.49 and a beta of 0.73. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities research analysts predict that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKTA. Bank of America lifted their target price on shares of Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, September 24th. BTIG Research reissued a “buy” rating and set a $219.00 price objective on shares of Okta in a research note on Thursday, September 24th. Susquehanna upped their price target on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Raymond James Financial upped their target price on Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Weiss Ratings downgraded shares of Okta from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $202.38.

Okta Company Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.