Lake Hills Wealth Management LLC Makes New Investment in Okta, Inc. $OKTA

Key Points

• Lake Hills Wealth Management LLC acquired a new position in Okta, Inc., purchasing 5,348 shares worth approximately $535,000.
• Institutional investors own 86.64% of Okta's stock, indicating significant institutional interest in the company.
• Okta's shares were recently rated as a "Moderate Buy" with an average price target of $118.25, according to MarketBeat analysts.

Lake Hills Wealth Management LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,348 shares of the company's stock, valued at approximately $535,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of Okta by 167.4% during 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 during the period. Wayfinding Financial LLC bought a new stake in Okta in the first quarter valued at $27,000. Harbour Investments Inc. grew its position 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 acquiring an additional 157 shares during the period. Rossby Financial LCC acquired a new position in Okta in the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Okta in the fourth quarter worth $40,000. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OKTA. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price target on the stock in a research note on Monday, July 7th. Truist Financial upgraded Okta from a "hold" rating to a "buy" rating and increased their price target for the stock from $100.00 to $125.00 in a report on Monday, August 25th. BMO Capital Markets decreased their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Bank of America reiterated an "underperform" rating and set a $75.00 price objective on shares of Okta in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada increased their price target 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 research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.25.

Insider Activity at Okta

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 transaction of $900,000.00. Following the sale, the executive owned 7,067 shares of the company's stock, valued at $706,700. This trade represents a 56.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following 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. Insiders have sold a total of 88,012 shares of company stock worth $8,293,168 over the last 90 days. 5.68% of the stock is currently owned by company insiders.

Okta Stock Down 0.2%

Shares of OKTA traded down $0.23 during midday trading on Friday, hitting $93.37. The company's stock had a trading volume of 5,821,676 shares, compared to its average volume of 4,417,496. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The company's fifty day simple moving average is $93.00 and its two-hundred day simple moving average is $101.84. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 109.85, a price-to-earnings-growth ratio of 4.57 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter last year, the company posted $0.72 EPS. The company'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, research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

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.