Okta, Inc. $OKTA Shares Sold by Rare Wolf Capital LLC

Rare Wolf Capital LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 21.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,352 shares of the company’s stock after selling 3,304 shares during the period. Okta accounts for about 1.5% of Rare Wolf Capital LLC’s investment portfolio, making the stock its 17th biggest holding. Rare Wolf Capital LLC’s holdings in Okta were worth $2,583,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Burkett Financial Services LLC purchased a new stake in shares of Okta in the third quarter valued at approximately $26,000. Polaris Financial Partners acquired a new position in Okta during the third quarter worth $36,000. Washington Trust Advisors Inc. grew its holdings in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after acquiring an additional 77 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after acquiring an additional 218 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in Okta in the third quarter worth $63,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank Of Canada raised their target price on Okta from $195.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, September 24th. DA Davidson boosted their target price on shares of Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. BTIG Research reaffirmed a “buy” rating and set a $219.00 price target on shares of Okta in a research note on Thursday, September 24th. Mizuho upped their price target on shares of Okta from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, September 24th. Finally, Stifel Nicolaus increased their price target on shares of Okta from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.38.

Okta Trading Up 2.2%

Okta stock opened at $194.02 on Wednesday. The stock has a market cap of $33.92 billion, a PE ratio of 116.88, a P/E/G ratio of 5.91 and a beta of 0.73. The stock has a 50-day moving average price of $182.00 and a 200 day moving average price of $135.98. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $235.00.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.91 EPS. 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, equities analysts predict that Okta, Inc. will post 1.92 EPS for the current year.

Insider Transactions at Okta

In other Okta news, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the sale, the insider directly owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. The trade was a 25.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,766 shares of company stock worth $23,927,112 over the last ninety days. 4.61% of the stock is currently owned by corporate insiders.

Okta Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.