Advisors Management Group Inc. ADV Sells 3,658 Shares of Okta, Inc. $OKTA

Advisors Management Group Inc. ADV reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,381 shares of the company’s stock after selling 3,658 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Okta were worth $1,919,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its stake in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. SHP Wealth Management bought a new position in Okta during the fourth quarter worth $27,000. Torren Management LLC acquired a new stake in Okta in the fourth quarter worth $32,000. Spire Wealth Management grew its holdings in Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in Okta in the fourth quarter valued at $52,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: KeyBanc raised its price target on Okta to $175 from $130 and kept an overweight rating, reinforcing the bullish analyst case for the stock. Benzinga report on KeyBanc price target increase
• Positive Sentiment: Another report said Okta could benefit from rising AI-driven cyber threats, which may support demand for its identity and security platform. Zacks cybersecurity stocks article
• Positive Sentiment: Brokerage and media coverage also pointed to strong institutional interest and AI-related security demand as supportive themes for Okta shares. FXEmpire article on AI agent security and Okta
• Neutral Sentiment: Recent hedge-fund and institutional filings show mixed positioning, with several large investors adding to Okta while others reduced exposure, suggesting uneven but still meaningful institutional interest.
• Negative Sentiment: CEO Todd McKinnon sold 68,936 shares worth about $10.1 million, trimming his stake significantly, which can weigh on sentiment even though the trade was pre-planned. SEC Form 4 filing

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson upped their price objective on shares of Okta from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 29th. HSBC lowered Okta from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Arete Research set a $127.00 price target on Okta and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their price objective on Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus target price of $118.97.

Okta Price Performance

NASDAQ:OKTA opened at $138.63 on Friday. Okta, Inc. has a one year low of $62.66 and a one year high of $153.20. The company has a market cap of $24.10 billion, a PE ratio of 100.46, a PEG ratio of 5.35 and a beta of 0.77. The firm has a 50-day moving average of $111.25 and a 200-day moving average of $92.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities research analysts expect that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 65,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This represents a 35.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the transaction, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 174,224 shares of company stock valued at $22,534,353. 4.61% of the stock is currently owned by company insiders.

Okta Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.