Advisors Management Group Inc. ADV Increases Stock Position in Okta, Inc. $OKTA

Key Points

• Advisors Management Group Inc. increased its stake in Okta, Inc. by 73.2% in Q2, owning 21,507 shares valued at approximately $2.15 million.
• Okta reported a 12.7% revenue increase year-over-year, with earnings per share beating estimates at $0.91.
• Insider selling activity was noted, with two executives selling a total of over 9,400 shares recently, indicating potential shifts in company ownership dynamics.

Advisors Management Group Inc. ADV raised its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 73.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,507 shares of the company's stock after buying an additional 9,090 shares during the period. Advisors Management Group Inc. ADV's holdings in Okta were worth $2,150,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after buying an additional 2,830,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock valued at $289,234,000 after buying an additional 1,189,222 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Okta by 5.2% in the 1st quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company's stock worth $211,982,000 after purchasing an additional 100,411 shares during the period. Finally, Alkeon Capital Management LLC purchased a new stake in shares of Okta in the 1st quarter worth about $199,918,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Price Performance

Shares of Okta stock opened at $91.16 on Friday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 107.25, a PEG ratio of 4.48 and a beta of 0.83. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57. The company has a 50-day moving average of $92.91 and a 200 day moving average of $101.28.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OKTA shares. Zacks Research cut shares of Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. BTIG Research reaffirmed a "buy" rating and issued a $142.00 target price on shares of Okta in a research report on Friday. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 target price for the company in a research report on Monday, July 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, August 27th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $138.00 target price on shares of Okta in a research report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and a consensus price target of $119.14.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 3,348 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total transaction of $301,889.16. Following the completion of the sale, the insider directly owned 39,155 shares in the company, valued at approximately $3,530,606.35. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the sale, the executive owned 7,067 shares of the company's stock, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock worth $12,598,168 in the last 90 days. Insiders own 5.68% of the company's stock.

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.

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