MIG Capital LLC Takes $793,000 Position in Okta, Inc. $OKTA

Key Points

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MIG Capital LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,539 shares of the company's stock, valued at approximately $793,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after buying an additional 582,956 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after buying an additional 4,171 shares during the last quarter. Trek Financial LLC bought a new stake in shares of Okta during the first quarter worth approximately $426,000. Merit Financial Group LLC bought a new stake in shares of Okta during the first quarter worth approximately $823,000. Finally, Stephens Investment Management Group LLC raised its stake in shares of Okta by 10.4% during the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after buying an additional 46,818 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 9,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were 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. The trade was a 56.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction dated 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 owned 132,288 shares in the company, valued at approximately $12,567,360. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock worth $8,382,790 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKTA. DA Davidson lowered their target price on Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. Mizuho reduced their target price on shares of Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the company a "market perform" rating in a report on Wednesday, May 28th. Finally, Stephens reissued an "equal weight" rating and issued a $127.00 target price on shares of Okta in a report on Tuesday, May 27th. Twenty investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Okta presently has a consensus rating of "Hold" and a consensus target price of $117.92.

Okta Stock Up 2.5%

OKTA stock traded up $2.27 during midday trading on Friday, reaching $92.05. 2,740,094 shares of the company's stock traded hands, compared to its average volume of 3,559,682. 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 cap of $16.12 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 4.40 and a beta of 0.80. The firm's fifty day moving average price is $95.73 and its 200-day moving average price is $102.45. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. 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, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal 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.