Okta, Inc. $OKTA Stock Position Boosted by Two Star Manager LLC

Key Points

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Two Star Manager LLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,860 shares of the company's stock after buying an additional 16,560 shares during the quarter. Okta comprises approximately 5.7% of Two Star Manager LLC's holdings, making the stock its 7th largest position. Two Star Manager LLC owned about 0.07% of Okta worth $11,875,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its holdings in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after buying an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Okta in the first quarter valued at $27,000. Harbour Investments Inc. grew its holdings in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Okta in the first quarter valued at $31,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Okta in the fourth quarter valued at $40,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Friday, July 18th. 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 132,288 shares in the company, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director directly owned 2,832 shares of the company's stock, valued at $284,021.28. This trade represents a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. Insiders own 5.68% of the company's stock.

Okta Trading Up 2.5%

Shares of NASDAQ OKTA traded up $2.27 during trading hours on Friday, reaching $92.05. The stock had a trading volume of 2,740,094 shares, compared to its average volume of 3,559,682. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 4.40 and a beta of 0.80. The business's fifty day moving average price is $95.73 and its two-hundred 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 announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.65 earnings per share. The business'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. Analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OKTA shares. Scotiabank raised their target price on shares of Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a report on Wednesday, May 28th. Needham & Company LLC raised their price target on Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Westpark Capital restated a "buy" rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group raised their price target on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. 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 company. According to data from MarketBeat.com, Okta currently has a consensus rating of "Hold" and an average price target of $117.92.

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.