MIG Capital LLC Purchases New Shares in Okta, Inc. $OKTA

Key Points

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MIG Capital LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,539 shares of the company's stock, valued at approximately $793,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC raised its holdings in shares of Okta by 7,296.7% in the first quarter. Fairscale Capital LLC now owns 2,219 shares of the company's stock valued at $233,000 after acquiring an additional 2,189 shares in the last quarter. Pinnacle Wealth Management LLC bought a new stake in shares of Okta in the first quarter valued at about $844,000. Qtron Investments LLC raised its holdings in shares of Okta by 68.1% in the first quarter. Qtron Investments LLC now owns 5,874 shares of the company's stock valued at $618,000 after acquiring an additional 2,380 shares in the last quarter. Northern Trust Corp lifted its position in shares of Okta by 7.9% during the first quarter. Northern Trust Corp now owns 1,080,533 shares of the company's stock valued at $113,694,000 after buying an additional 79,506 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Okta during the first quarter valued at about $3,511,000. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares in the company, valued at approximately $12,567,360. This represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $1,970,994.60. This represents a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 in the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on OKTA. Guggenheim reissued a "buy" rating and set a $138.00 price target on shares of Okta in a research report on Monday, August 18th. JPMorgan Chase & Co. increased their price target on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Stephens reissued an "equal weight" rating and set a $127.00 price target on shares of Okta in a research report on Tuesday, May 27th. Stifel Nicolaus increased their price target on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, BTIG Research reissued a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Twenty analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Okta has an average rating of "Hold" and an average target price of $117.92.

Okta Stock Up 2.5%

Shares of OKTA traded up $2.27 during mid-day trading on Friday, hitting $92.05. 2,740,094 shares of the company traded hands, compared to its average volume of 3,037,079. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $16.12 billion, a PE ratio of 146.11, a price-to-earnings-growth ratio of 4.45 and a beta of 0.80. The business has a 50 day moving average of $95.62 and a 200 day moving average of $102.50.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 EPS 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 firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Okta's revenue for the quarter was up 11.5% on a year-over-year basis. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current 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.