Oak Harvest Investment Services Buys Shares of 5,000 Okta, Inc. $OKTA

Key Points

• Oak Harvest Investment Services acquired 5,000 shares of Okta, Inc., valued at approximately $526,000, during the first quarter.
• Several institutional investors, including Vanguard Group Inc., increased their stakes in Okta, which is now over 86.64% owned by institutional investors and hedge funds.
• Okta stock recently hit a price of $92.05, with a market cap of $16.12 billion, while the company's recent earnings report exceeded analyst expectations.

Oak Harvest Investment Services bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,000 shares of the company's stock, valued at approximately $526,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Okta by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after buying an additional 582,956 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after buying an additional 4,171 shares during the period. Trek Financial LLC acquired a new stake in shares of Okta in the 1st quarter valued at $426,000. Merit Financial Group LLC acquired a new stake in shares of Okta in the 1st quarter valued at $823,000. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Okta by 10.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock valued at $52,518,000 after purchasing an additional 46,818 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKTA. UBS Group reduced their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Evercore ISI lifted their price objective on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Canaccord Genuity Group lifted their price objective on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Finally, Arete began coverage on shares of Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective for the company. Twenty 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. Based on data from MarketBeat.com, Okta presently has a consensus rating of "Hold" and an average target price of $117.92.

Okta Stock Up 2.5%

Okta stock opened at $92.05 on Friday. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 4.45 and a beta of 0.80. 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, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a fifty day moving average price of $95.62 and a two-hundred day moving average price of $102.47.

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, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business 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, analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In other news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,244 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the transaction, the insider directly owned 23,640 shares of the company's stock, valued at $2,364,000. This 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 worth $8,382,790. Insiders own 5.68% of the company's stock.

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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