Ethic Inc. Has $1.56 Million Stock Holdings in Okta, Inc. $OKTA

Key Points

• Ethic Inc. increased its stake in Okta, Inc. by 69.6%, owning 14,898 shares valued at $1.56 million as of its latest SEC filing.
• Insiders have sold significant amounts of stock, with Eric Robert Kelleher selling 16,018 shares worth approximately $1.47 million, reflecting a 69.46% decrease in his position.
• Okta's recent quarterly earnings showed an EPS of $0.86, exceeding estimates, and a revenue increase of 11.5% year-over-year, highlighting positive financial performance.

Ethic Inc. lifted its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 69.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,898 shares of the company's stock after buying an additional 6,113 shares during the period. Ethic Inc.'s holdings in Okta were worth $1,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its position in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Okta in the first quarter worth $27,000. Harbour Investments Inc. boosted its position in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares during the period. Rossby Financial LCC acquired a new stake in shares of Okta in the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta in the fourth quarter worth $40,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

Shares of OKTA stock traded up $2.27 during trading on Friday, reaching $92.05. The company had a trading volume of 2,740,094 shares, compared to its average volume of 3,037,079. The firm's 50 day simple moving average is $95.62 and its two-hundred day simple moving average is $102.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a market capitalization of $16.12 billion, a PE ratio of 146.11, a PEG ratio of 4.45 and a beta of 0.80.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The business had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same period last year, the business earned $0.65 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Canaccord Genuity Group increased their price objective on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Barclays cut their price objective on Okta from $120.00 to $100.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Scotiabank increased their price objective on Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group increased their price objective on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Twenty equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued 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 $117.92.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares in the company, valued at $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock valued at $8,382,790 in the last ninety days. Company 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.