Geneos Wealth Management Inc. Raises Stock Position in Okta, Inc. $OKTA

Key Points

• Geneos Wealth Management Inc. increased its stake in Okta, Inc. by 27.2%, acquiring an additional 2,848 shares, bringing its total holdings to 13,314 shares worth approximately $1.4 million.
• Okta's stock performance has been strong, with a reported 1-year revenue increase of 12.7%, and the company exceeded earnings expectations by reporting $0.91 EPS for the last quarter.
• Several brokerages have issued positive ratings for Okta, with target prices ranging from $110 to $140, reflecting strong market confidence in the company's future growth potential.

Geneos Wealth Management Inc. increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 27.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,314 shares of the company's stock after purchasing an additional 2,848 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Okta were worth $1,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its stake in shares of Okta by 167.4% in the 1st 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 last quarter. Wayfinding Financial LLC purchased a new stake in shares of Okta in the 1st quarter worth approximately $27,000. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Okta in the 1st quarter worth approximately $31,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. This trade represents a 56.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 31,592 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the sale, the chief executive officer owned 20,682 shares of the company's stock, valued at $1,970,994.60. The trade was a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 in the last quarter. Company insiders own 5.68% of the company's stock.

Okta Trading Up 0.6%

Okta stock traded up $0.57 during trading on Monday, reaching $90.91. The company had a trading volume of 1,697,494 shares, compared to its average volume of 4,389,248. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The firm's 50-day simple moving average is $93.32 and its 200 day simple moving average is $102.16. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 106.95, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $711.84 million. During the same period last year, the firm earned $0.72 EPS. Okta'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. On average, analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on OKTA shares. Wall Street Zen upgraded Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Arete Research upgraded Okta to a "strong sell" rating and set a $83.00 price target on the stock in a research note on Monday, July 7th. The Goldman Sachs Group upped their price target on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Twenty-two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $118.25.

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.