Altrinsic Global Advisors LLC Has $3.59 Million Stock Position in Okta, Inc. $OKTA

Key Points

• Altrinsic Global Advisors LLC has reduced its stake in Okta, Inc. by 9.2%, selling 3,467 shares and now holding 34,091 shares valued at approximately $3.59 million.
• CEO Todd Mckinnon sold 31,592 shares at an average price of $95.30, marking a significant decrease in his ownership stake by 60.44% to 20,682 shares.
• Okta's recent earnings report indicated a beat against consensus estimates, with earnings per share reported at $0.86 and revenue of $688 million, showing an 11.5% year-over-year increase.

Altrinsic Global Advisors LLC decreased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,091 shares of the company's stock after selling 3,467 shares during the quarter. Altrinsic Global Advisors LLC's holdings in Okta were worth $3,587,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OKTA. Wolff Wiese Magana LLC boosted its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new position in Okta during the 1st quarter valued at about $27,000. Harbour Investments Inc. boosted its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after buying an additional 157 shares in the last quarter. Rossby Financial LCC acquired a new position in Okta in the first quarter valued at about $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Okta during the fourth quarter worth about $40,000. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Arete Research upgraded shares of Okta to a "strong sell" rating and set a $83.00 target price for the company in a research note on Monday, July 7th. Mizuho cut their price objective on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. increased their target price on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Robert W. Baird cut their price target on Okta from $148.00 to $142.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Twenty-two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $118.25.

Okta Trading Down 0.5%

NASDAQ OKTA traded down $0.44 during trading hours on Thursday, hitting $92.59. The company's stock had a trading volume of 7,073,265 shares, compared to its average volume of 3,983,655. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The firm has a market capitalization of $16.21 billion, a P/E ratio of 108.93, a PEG ratio of 4.46 and a beta of 0.80. The company has a quick ratio of 1.47, a current ratio of 1.35 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average of $95.07 and a 200 day moving average of $102.29.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analysts' expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares of the company's stock, valued at approximately $12,567,360. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. This trade represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock valued at $8,382,790 in the last ninety days. 5.68% of the stock is currently owned by insiders.

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.