CX Institutional Buys 164 Shares of Okta, Inc. $OKTA

CX Institutional increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 33.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 661 shares of the company’s stock after purchasing an additional 164 shares during the quarter. CX Institutional’s holdings in Okta were worth $66,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its position in shares of 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 last quarter. Wayfinding Financial LLC bought a new position in shares of Okta during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. increased its position in shares of 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 last quarter. Pinnacle Bancorp Inc. bought a new position in shares of Okta during the 2nd quarter valued at approximately $26,000. Finally, Rossby Financial LCC bought a new position in shares of Okta during the 1st quarter valued at approximately $31,000. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 2.5%

Shares of OKTA stock opened at $89.87 on Thursday. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 105.73, a P/E/G ratio of 4.51 and a beta of 0.83. The stock has a fifty day simple moving average of $93.01 and a two-hundred day simple moving average of $101.48.

Okta (NASDAQ:OKTA) last issued 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. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter 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. Research analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKTA. Bank of America reaffirmed an “underperform” rating and issued a $75.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Citigroup reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Scotiabank cut their price objective on Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 27th. Wells Fargo & Company upped their price objective on Okta from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada upped their price objective on Okta from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.25.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction on Friday, July 18th. 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 owned 132,288 shares of the company’s stock, valued at $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,593 shares of company stock worth $12,598,168. 5.68% of the stock is owned by company insiders.

Okta 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.