Okta, Inc. $OKTA Shares Sold by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group Ltd. reduced its position in Okta, Inc. by 55.2% in Q2, now holding 42,600 shares valued at approximately $4.26 million.
• Analysts have recently updated their ratings on Okta, with a consensus rating of "Hold" and an average price target of $118.94, despite varied views from firms like BTIG and Arete Research.
• Okta's shares are currently trading at $87.43, with a market cap of $15.31 billion and earnings of $0.91 per share reported in the latest quarter, exceeding estimates.

Stanley Laman Group Ltd. lowered its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 55.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,600 shares of the company's stock after selling 52,404 shares during the period. Stanley Laman Group Ltd.'s holdings in Okta were worth $4,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wolff Wiese Magana LLC raised 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. Pinnacle Bancorp Inc. bought a new position in Okta in the 2nd quarter worth about $26,000. Wayfinding Financial LLC bought a new position in shares of Okta in the first quarter worth $27,000. Harbour Investments Inc. raised its position in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in Okta during the 1st quarter valued at $31,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKTA has been the topic of several recent research reports. Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. BTIG Research reaffirmed a "buy" rating and issued a $142.00 price target on shares of Okta in a research note on Friday, September 26th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price target on shares of Okta in a report on Wednesday, August 27th. Barclays increased their price objective on Okta from $100.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Finally, 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. Twenty-two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $118.94.

Okta Trading Down 0.3%

Shares of Okta stock opened at $87.43 on Friday. The firm has a fifty day simple moving average of $91.23 and a 200-day simple moving average of $99.18. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 102.86, a PEG ratio of 4.31 and a beta of 0.84. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same quarter last year, the firm posted $0.72 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. 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 predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the sale, the insider owned 9,174 shares of the company's stock, valued at $841,531.02. This trade represents a 20.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,318 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the completion of the sale, the insider owned 37,837 shares of the company's stock, valued at $3,467,761.05. This represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,249 shares of company stock worth $9,809,471 over the last 90 days. Company 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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