WINTON GROUP Ltd Reduces Position in Okta, Inc. $OKTA

WINTON GROUP Ltd decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 92.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,716 shares of the company’s stock after selling 70,467 shares during the quarter. WINTON GROUP Ltd’s holdings in Okta were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Okta by 521.5% during the second quarter. NewEdge Advisors LLC now owns 2,828 shares of the company’s stock worth $386,000 after acquiring an additional 2,373 shares during the last quarter. GFG Capital LLC boosted its stake in Okta by 12.0% during the 2nd quarter. GFG Capital LLC now owns 33,971 shares of the company’s stock worth $4,635,000 after purchasing an additional 3,639 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in Okta during the 2nd quarter worth $3,444,000. Baird Financial Group Inc. grew its position in Okta by 3.4% during the 2nd quarter. Baird Financial Group Inc. now owns 10,918 shares of the company’s stock worth $1,490,000 after purchasing an additional 362 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Okta by 51.0% in the second quarter. Allworth Financial LP now owns 3,005 shares of the company’s stock valued at $410,000 after purchasing an additional 1,015 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Up 12.0%

Shares of NASDAQ:OKTA opened at $186.45 on Tuesday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $189.72. The firm’s 50-day simple moving average is $150.19 and its 200-day simple moving average is $112.56. The company has a market cap of $32.60 billion, a price-to-earnings ratio of 112.32, a PEG ratio of 5.18 and a beta of 0.79.

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

Insiders Place Their Bets

In related news, insider Eric Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at $1,249,650.92. The trade was a 84.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 155,376 shares of company stock worth $23,734,135. Company insiders own 4.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citizens Jmp increased their target price on shares of Okta from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 27th. Morgan Stanley boosted their price target on Okta from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Robert W. Baird upped their price objective on Okta from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased their price objective on Okta from $166.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, Susquehanna lifted their target price on Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $173.45.

Okta Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.