Motley Fool Wealth Management LLC Sells 7,376 Shares of Okta, Inc. $OKTA

by · The Cerbat Gem

Motley Fool Wealth Management LLC lowered its stake in Okta, Inc. (NASDAQ:OKTA – Free Report) by 10.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 66,442 shares of the company’s stock after selling 7,376 shares during the period. Motley Fool Wealth Management LLC’s holdings in Okta were worth $6,642,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in shares of Okta in the second quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new position in shares of Okta in the first quarter valued at approximately $27,000. Harbour Investments Inc. grew its position in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Okta in the first quarter valued at approximately $31,000. Finally, Kiker Wealth Management LLC grew its position in shares of Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 1.1%

Shares of NASDAQ:OKTA opened at $90.01 on Tuesday. The firm has a market cap of $15.76 billion, a PE ratio of 105.89, a PEG ratio of 4.37 and a beta of 0.84. The company’s 50 day moving average price is $91.06 and its two-hundred day moving average price is $98.87. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion for 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%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business 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. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OKTA shares. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Jefferies Financial Group upped their target price on Okta from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, August 27th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Finally, BTIG Research restated a “buy” rating and set a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $118.94.

Get Our Latest Report on OKTA

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold a total of 63,657 shares of company stock worth $5,898,754 in the last three months. Company insiders own 5.68% of the company’s stock.

About Okta

(Free Report)

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.

Further Reading

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