Clarius Group LLC Trims Stake in Okta, Inc. $OKTA

Key Points

• Clarius Group LLC reduced its stake in Okta, Inc. by 9.4% during the second quarter, selling 3,797 shares for a total value of approximately $3.66 million.
• Okta's quarterly earnings report indicated a 12.7% year-over-year revenue increase and earnings per share of $0.91, surpassing analyst expectations.
• Recent analyst ratings show a mix of opinions, with price targets ranging from $105 to $125, highlighting a consensus rating of "Hold".

Clarius Group LLC lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,639 shares of the company's stock after selling 3,797 shares during the quarter. Clarius Group LLC's holdings in Okta were worth $3,663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OKTA. Wolff Wiese Magana LLC raised its stake in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after acquiring an additional 154 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta in the second quarter valued at $26,000. Wayfinding Financial LLC purchased a new position in Okta in the 1st quarter worth about $27,000. Harbour Investments Inc. increased its stake in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares during the period. Finally, Rossby Financial LCC purchased a new position in Okta in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. This trade represents a 56.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares of the company's stock, valued at $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,003 shares of company stock worth $12,819,238 over the last ninety days. 5.68% of the stock is currently owned by insiders.

Okta Stock Down 1.7%

Shares of Okta stock opened at $93.30 on Friday. The firm has a market capitalization of $16.33 billion, a P/E ratio of 109.76, a PEG ratio of 4.58 and a beta of 0.84. The company has a 50 day moving average price of $92.49 and a 200 day moving average price of $100.56. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm 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% on a year-over-year basis. During the same period last year, the firm 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. As a group, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on OKTA shares. Barclays raised their price target on shares of Okta from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 price target on shares of Okta in a research note on Wednesday, August 27th. Canaccord Genuity Group raised shares of Okta from a "hold" rating to a "buy" rating and raised their price target for the stock from $115.00 to $120.00 in a research note on Tuesday, August 26th. Scotiabank reduced their price target on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 27th. Finally, Zacks Research downgraded shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Okta currently has a consensus rating of "Hold" and a consensus price target of $118.94.

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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