Mutual Advisors LLC Invests $235,000 in Okta, Inc. $OKTA

Mutual Advisors LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,328 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also made changes to their positions in the company. Generali Asset Management SPA SGR acquired a new position in shares of Okta during the second quarter worth $1,402,000. Courier Capital LLC raised its holdings in Okta by 1.5% in the second quarter. Courier Capital LLC now owns 9,680 shares of the company’s stock valued at $968,000 after acquiring an additional 145 shares in the last quarter. TD Asset Management Inc raised its holdings in Okta by 515.6% in the second quarter. TD Asset Management Inc now owns 99,415 shares of the company’s stock valued at $9,939,000 after acquiring an additional 83,265 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Okta in the second quarter valued at $75,000. Finally, Kiker Wealth Management LLC raised its holdings in 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 acquiring an additional 313 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OKTA shares. Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the company from $100.00 to $125.00 in a report on Monday, August 25th. BTIG Research reaffirmed a “buy” rating and issued a $142.00 price target on shares of Okta in a report on Friday, September 26th. BMO Capital Markets cut their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a report on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a report on Wednesday, October 8th. Finally, Scotiabank reduced their price target on shares of Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $118.94.

Okta Stock Performance

Okta stock opened at $89.45 on Wednesday. The company has a 50-day simple moving average of $91.23 and a 200-day simple moving average of $99.03. The firm has a market capitalization of $15.66 billion, a P/E ratio of 105.24, a P/E/G ratio of 4.34 and a beta of 0.84. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion during 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 company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. As a group, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive owned 7,067 shares in the company, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer owned 133,336 shares of the company’s stock, valued at $12,666,920. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,657 shares of company stock valued at $6,798,754. 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.