Knollwood Investment Advisory LLC Invests $401,000 in Okta, Inc. $OKTA

Key Points

• Knollwood Investment Advisory LLC has acquired a new position in Okta, Inc. by investing approximately $401,000 in 3,809 shares in the first quarter.
• Several institutional investors, including Wolff Wiese Magana LLC and Harbour Investments Inc., significantly increased their stakes in Okta, contributing to hedge funds and institutional investors holding 86.64% of the stock.
• Analysts have mixed ratings for Okta, with a consensus price target of $118.06, reflecting 20 buy ratings, 14 hold ratings, and 3 sell ratings.

Knollwood Investment Advisory LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,809 shares of the company's stock, valued at approximately $401,000.

Other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its stake 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 purchasing an additional 154 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Okta in the first quarter worth about $27,000. Harbour Investments Inc. raised its stake 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 purchasing an additional 157 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Okta in the first quarter worth about $31,000. Finally, Center for Financial Planning Inc. purchased a new position in shares of Okta in the first quarter worth about $47,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Stifel Nicolaus raised their target price on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Barclays dropped their target price on Okta from $120.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday. Westpark Capital reaffirmed a "buy" rating and set a $140.00 target price on shares of Okta in a report on Wednesday, May 28th. Finally, Loop Capital initiated coverage on Okta in a report on Monday, May 5th. They set a "buy" rating and a $140.00 target price on the stock. Twenty investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Okta has a consensus rating of "Hold" and a consensus price target of $118.06.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction that occurred 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 owned 7,067 shares in the company, valued at $706,700. This trade represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider owned 23,640 shares in the company, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,594 shares of company stock valued at $8,382,790. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

NASDAQ OKTA opened at $91.15 on Wednesday. The company has a market cap of $15.96 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 4.42 and a beta of 0.80. The stock's 50 day simple moving average is $96.12 and its 200-day simple moving average is $102.55. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. 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 (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%.The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. As a group, equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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.

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