Advisors Management Group Inc. ADV Increases Stock Position in Okta, Inc. $OKTA

Advisors Management Group Inc. ADV grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 73.2% during the second quarter, HoldingsChannel.com reports. The fund owned 21,507 shares of the company’s stock after buying an additional 9,090 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Okta were worth $2,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Okta during the 2nd quarter valued at about $1,880,000. CX Institutional boosted its holdings in shares of Okta by 33.0% in the second quarter. CX Institutional now owns 661 shares of the company’s stock worth $66,000 after buying an additional 164 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Okta by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 51,421 shares of the company’s stock worth $5,141,000 after buying an additional 1,308 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Okta by 521.6% in the second quarter. Ballentine Partners LLC now owns 16,316 shares of the company’s stock worth $1,631,000 after buying an additional 13,691 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of Okta by 3.7% in the second quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, insider Larissa Schwartz sold 3,348 shares of Okta stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total transaction of $301,889.16. Following the sale, the insider owned 39,155 shares in the company, valued at $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the sale, the executive owned 7,067 shares in the company, valued at approximately $654,474.87. The trade was a 46.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,593 shares of company stock valued at $12,598,168. Company insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKTA. Citigroup reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $125.00 in a report on Monday, August 25th. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Okta in a report on Wednesday, August 27th. DA Davidson reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Friday. 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 research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus price target of $119.14.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $91.16 on Friday. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57. The company has a market capitalization of $15.96 billion, a P/E ratio of 107.25, a P/E/G ratio of 4.48 and a beta of 0.83. The firm’s 50 day simple moving average is $92.91 and its two-hundred day simple moving average is $101.28.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

About Okta

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.