4,883 Shares in Okta, Inc. $OKTA Acquired by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC has acquired 4,883 shares of Okta, Inc. valued at approximately $514,000 during the first quarter, reflecting increased institutional interest in the company.
• Okta's CFO, Brett Tighe, sold 10,000 shares of stock for about $950,000, which resulted in a significant decrease in his ownership by 7.03%.
• The average analyst rating for Okta's stock is "Moderate Buy" with a consensus price target of $118.25, reflecting mixed opinions on the company's future performance.

CreativeOne Wealth LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,883 shares of the company's stock, valued at approximately $514,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its stake in Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Okta in the first quarter valued at $27,000. Harbour Investments Inc. increased its stake in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Rossby Financial LCC bought a new stake in Okta in the first quarter valued at $31,000. Finally, Center for Financial Planning Inc. bought a new stake in Okta in the first quarter valued at $47,000. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 9,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive owned 7,067 shares of the company's stock, valued at $706,700. The trade was a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company's stock.

Okta Stock Performance

OKTA traded up $1.66 during midday trading on Friday, reaching $91.40. The company had a trading volume of 2,356,506 shares, compared to its average volume of 3,739,559. The stock has a market cap of $16.00 billion, a PE ratio of 107.31, a P/E/G ratio of 4.38 and a beta of 0.83. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The business has a 50-day moving average price of $94.30 and a two-hundred day moving average price of $102.06.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company's quarterly 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, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Arete assumed coverage on shares of Okta in a report on Monday, July 7th. They set a "sell" rating and a $83.00 price objective for the company. Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Stifel Nicolaus lifted their price objective on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Barclays lifted their price objective on shares of Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Twenty-two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.25.

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.