Legal Advantage Investments Inc. Has $954,000 Stake in Okta, Inc. $OKTA

Key Points

• Legal Advantage Investments Inc. increased its stake in Okta, Inc. by 91.2%, owning 9,540 shares valued at $954,000 as of the latest SEC filing.
• Insider transactions included CEO Todd Mckinnon selling 31,968 shares for approximately $2.95 million, and CFO Brett Tighe selling 10,000 shares worth $950,000.
• Okta’s market capitalization is $15.64 billion, with a current PE ratio of 105.12 and analysts maintaining a consensus rating of "Hold" for the stock.

Legal Advantage Investments Inc. grew its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 91.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,540 shares of the company's stock after buying an additional 4,550 shares during the quarter. Legal Advantage Investments Inc.'s holdings in Okta were worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Okta by 5.0% in the 2nd quarter. CWM LLC now owns 30,063 shares of the company's stock worth $3,005,000 after purchasing an additional 1,433 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Okta by 28.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,197 shares of the company's stock worth $3,019,000 after purchasing an additional 6,718 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Okta in the 2nd quarter worth approximately $573,000. Apollon Wealth Management LLC acquired a new stake in Okta in the 2nd quarter worth approximately $234,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Okta in the 2nd quarter worth approximately $435,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 133,336 shares in the company, valued at $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,321 shares of company stock worth $13,890,032. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OKTA shares. DA Davidson restated a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Okta in a research report on Wednesday. Canaccord Genuity Group raised Okta from a "hold" rating to a "buy" rating and lifted their price target for the stock from $115.00 to $120.00 in a research report on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Okta in a research report on Friday, September 26th. Finally, Robert W. Baird dropped their price target on Okta from $142.00 to $135.00 and set an "outperform" rating on the stock in a research report on Monday, September 29th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of "Hold" and a consensus target price of $118.94.

Okta Price Performance

Shares of Okta stock opened at $89.35 on Friday. The firm has a market capitalization of $15.64 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 4.39 and a beta of 0.84. The company's fifty day moving average price is $91.91 and its two-hundred day moving average price is $99.77. Okta, Inc. has a 52-week low of $70.92 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced 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. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta Company 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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