Pinnacle Wealth Management LLC Invests $844,000 in Okta, Inc. $OKTA

Key Points

• Pinnacle Wealth Management LLC has acquired 8,026 shares of Okta, Inc., valued at approximately $844,000, representing 0.9% of its investment portfolio.
• Insider sales included Larissa Schwartz selling 2,244 shares for $224,400 and CFO Brett Tighe selling 10,000 shares worth $950,000, indicating a decrease in insider holdings.
• Okta's stock recently experienced a 3.8% increase and has a consensus rating of "Hold" with an average price target of $118.61 from several analysts.

Pinnacle Wealth Management LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,026 shares of the company's stock, valued at approximately $844,000. Okta makes up 0.9% of Pinnacle Wealth Management LLC's holdings, making the stock its 17th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Okta during the first quarter worth approximately $27,000. Harbour Investments Inc. grew its position in Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after buying an additional 157 shares in the last quarter. Rossby Financial LCC acquired a new stake in Okta during the first quarter worth approximately $31,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of Okta in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKTA. Guggenheim reaffirmed a "buy" rating and issued a $138.00 target price on shares of Okta in a report on Monday. Needham & Company LLC raised their target price on Okta from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Barclays reduced their target price on Okta from $120.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday. Arete Research raised Okta to a "strong sell" rating and set a $83.00 target price on the stock in a report on Monday, July 7th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, May 28th. Twenty research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Okta has an average rating of "Hold" and an average price target of $118.06.

Insider Activity

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The stock was 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 132,288 shares of the company's stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction dated 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 transaction, the chief executive officer directly owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by corporate insiders.

Okta Price Performance

Shares of OKTA traded down $0.12 during trading hours on Wednesday, reaching $91.03. The stock had a trading volume of 1,851,589 shares, compared to its average volume of 3,423,419. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The stock has a market capitalization of $15.94 billion, a PE ratio of 144.49, a PEG ratio of 4.41 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The company's 50-day moving average is $95.94 and its two-hundred day moving average is $102.47.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly 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 company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period in the prior year, the company earned $0.65 EPS. Okta's revenue was up 11.5% compared to the same quarter last year. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Okta 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.