Pinnacle Wealth Management LLC Boosts Holdings in Okta, Inc. $OKTA

Key Points

• Pinnacle Wealth Management LLC increased its stake in Okta, Inc. by 64.7% during the second quarter, now holding 13,216 shares valued at approximately $1.32 million.
• Insider sales included Eric Robert Kelleher selling 8,522 shares and CFO Brett Tighe selling 10,000 shares, indicating a decrease in their ownership by 48.16% and 6.98%, respectively.
• Analysts have mixed ratings on Okta, with a consensus target price of $118.94, reflecting 22 Buy ratings, 14 Hold ratings, and 3 Sell ratings.

Pinnacle Wealth Management LLC boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 64.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,216 shares of the company's stock after purchasing an additional 5,190 shares during the quarter. Pinnacle Wealth Management LLC's holdings in Okta were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Okta in the 1st quarter worth approximately $27,000. Harbour Investments Inc. lifted its stake in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Okta in the 2nd quarter worth approximately $26,000. Finally, Rossby Financial LCC purchased a new stake in Okta in the 1st quarter worth approximately $31,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKTA shares. Zacks Research cut shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Okta in a report on Wednesday, October 8th. Guggenheim reissued a "buy" rating and issued a $138.00 price target on shares of Okta in a report on Wednesday, August 27th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Okta in a report on Wednesday, August 27th. Finally, Scotiabank decreased their price target on shares of Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $118.94.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 8,522 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total transaction of $789,307.64. Following the transaction, the insider owned 9,174 shares of the company's stock, valued at approximately $849,695.88. This trade represents a 48.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer directly owned 133,336 shares in the company, valued at approximately $12,666,920. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,249 shares of company stock worth $9,809,471 in the last 90 days. Corporate insiders own 5.68% of the company's stock.

Okta Stock Performance

OKTA stock opened at $87.43 on Friday. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The firm's fifty day moving average is $91.23 and its 200 day moving average is $99.13. The firm has a market cap of $15.31 billion, a P/E ratio of 102.86, a P/E/G ratio of 4.29 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. 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 firm earned $0.72 EPS. The firm's quarterly revenue 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. As a group, analysts forecast 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.

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