Westfield Capital Management Co. LP Sells 8,623 Shares of Okta, Inc. $OKTA

Westfield Capital Management Co. LP lowered its position in Okta, Inc. (NASDAQ:OKTA) by 1.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 570,323 shares of the company’s stock after selling 8,623 shares during the period. Westfield Capital Management Co. LP’s holdings in Okta were worth $57,015,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in Okta in the 2nd quarter worth about $26,000. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares during the last quarter. Kiker Wealth Management LLC grew its stake in shares of Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after buying an additional 313 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in shares of Okta by 126.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Scotiabank cut their price target on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 27th. Zacks Research downgraded shares of Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Okta in a report on Friday, November 14th. Finally, Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their target price for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Twenty-three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.33.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction 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 sale, the insider owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. This trade represents a 20.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The SEC filing for this sale provides additional information. Insiders have sold 64,975 shares of company stock valued at $6,011,126 over the last 90 days. Insiders own 5.68% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $78.32 on Friday. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 92.14, a PEG ratio of 3.93 and a beta of 0.84. The firm’s 50-day moving average is $88.85 and its two-hundred day moving average is $96.74. Okta, Inc. has a 1 year low of $74.16 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS 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 during the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta Company Profile

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.