Legal Advantage Investments Inc. Buys 4,550 Shares of Okta, Inc. $OKTA

Legal Advantage Investments Inc. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 91.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,540 shares of the company’s stock after purchasing an additional 4,550 shares during the period. Legal Advantage Investments Inc.’s holdings in Okta were worth $954,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 582,956 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Okta by 325.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock worth $389,308,000 after purchasing an additional 2,830,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Okta by 76.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after purchasing an additional 1,189,222 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Okta by 52.1% during the second quarter. Ninety One UK Ltd now owns 2,744,524 shares of the company’s stock worth $274,370,000 after purchasing an additional 939,589 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Okta by 5.2% during the first quarter. Ameriprise Financial Inc. now owns 2,014,665 shares of the company’s stock worth $211,982,000 after purchasing an additional 100,411 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKTA. DA Davidson restated a “buy” rating and set a $140.00 target price on shares of Okta in a report on Friday, September 26th. BTIG Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Okta in a research note on Friday, September 26th. BMO Capital Markets cut their price target on Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Okta in a research note on Friday, September 26th. Finally, Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $118.94.

Okta Trading Down 4.6%

Shares of OKTA opened at $89.35 on Friday. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57. The stock has a market cap of $15.64 billion, a P/E ratio of 105.12, a price-to-earnings-growth ratio of 4.39 and a beta of 0.84. The stock’s 50-day moving average price is $91.91 and its two-hundred day moving average price is $99.77.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter last year, the business earned $0.72 earnings per share. The company’s 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, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the sale, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,321 shares of company stock worth $13,890,032 in the last ninety days. 5.68% of the stock is currently owned by corporate insiders.

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.