Apollon Wealth Management LLC Invests $234,000 in Okta, Inc. $OKTA

Apollon Wealth Management LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,339 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its holdings in Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after acquiring an additional 92 shares during the last quarter. Allworth Financial LP increased its stake in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock worth $173,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Okta by 12.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock worth $89,000 after purchasing an additional 92 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Okta by 18.9% in the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock valued at $71,000 after purchasing an additional 108 shares in the last quarter. Finally, Norden Group LLC lifted its stake in shares of Okta by 3.7% in the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company’s stock valued at $326,000 after purchasing an additional 116 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKTA. BMO Capital Markets dropped their target price on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research report on Wednesday, August 27th. Barclays boosted their price objective on shares of Okta from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 27th. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, August 27th. Zacks Research lowered shares of Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a research report on Friday, September 26th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $118.94.

Okta Price Performance

Shares of OKTA stock opened at $87.43 on Friday. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a market capitalization of $15.31 billion, a P/E ratio of 102.86, a P/E/G ratio of 4.29 and a beta of 0.84. The company’s fifty day moving average price is $91.23 and its two-hundred day moving average price is $99.13.

Okta (NASDAQ:OKTA) last announced its 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 return on equity of 3.31% and a net margin of 6.08%.The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue 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 EPS for the current year.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of Okta 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total value of $120,794.70. Following the transaction, the insider owned 37,837 shares of the company’s stock, valued at approximately $3,467,761.05. This trade represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,249 shares of company stock worth $9,809,471 over the last quarter. Corporate insiders own 5.68% of the company’s stock.

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.