QRG Capital Management Inc. Acquires 1,706 Shares of Okta, Inc. $OKTA

QRG Capital Management Inc. boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 84.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,724 shares of the company’s stock after purchasing an additional 1,706 shares during the quarter. QRG Capital Management Inc.’s holdings in Okta were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in Okta by 167.4% during 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 during the period. Wayfinding Financial LLC bought a new stake in Okta during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. boosted its stake in Okta by 152.4% during the 1st 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 period. Pinnacle Bancorp Inc. bought a new stake in shares of Okta in the 2nd quarter worth approximately $26,000. Finally, Rossby Financial LCC bought a new stake in shares of Okta in the 1st quarter worth approximately $31,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 4.6%

Shares of Okta stock opened at $89.35 on Friday. The business has a fifty day simple moving average of $91.91 and a 200 day simple moving average of $99.87. The stock has a market cap of $15.64 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 4.60 and a beta of 0.84. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Okta

In other news, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the transaction, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer directly owned 133,336 shares in the company, valued at $12,666,920. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,321 shares of company stock valued at $13,890,032. Company insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank reduced their price objective on Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 27th. Robert W. Baird reduced their price objective on Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Truist Financial upgraded 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 research report on Monday, August 25th. BMO Capital Markets reduced their price objective on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research report on Wednesday, August 27th. Finally, Arete assumed coverage on Okta in a research report on Monday, July 7th. They issued a “sell” rating and a $83.00 price objective for the company. Twenty-two research 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 company presently has a consensus rating of “Hold” and a consensus target price of $118.94.

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.