Channel Wealth LLC Invests $4.19 Million in Okta, Inc. $OKTA

Channel Wealth LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 45,681 shares of the company’s stock, valued at approximately $4,189,000. Okta accounts for 1.1% of Channel Wealth LLC’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors also recently bought and sold shares of OKTA. Vanguard Group Inc. lifted its stake in shares of Okta by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after acquiring an additional 935,364 shares during the period. First Trust Advisors LP raised its holdings in Okta by 9.1% during the second quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after purchasing an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Okta by 20.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock valued at $445,432,000 after purchasing an additional 755,709 shares during the period. Geode Capital Management LLC boosted its holdings in Okta by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after purchasing an additional 314,525 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Okta by 76.3% during the 1st 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 period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $85.71, for a total transaction of $112,965.78. Following the sale, the insider owned 35,201 shares in the company, valued at approximately $3,017,077.71. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at $12,666,920. The trade was a 6.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,332 shares of company stock worth $4,468,808 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKTA. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Okta in a report on Friday, December 12th. Stifel Nicolaus reduced their target price on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Susquehanna lowered their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Mizuho cut their price target on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Finally, JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.62.

Okta Stock Down 2.4%

Okta stock opened at $88.42 on Thursday. The firm has a market capitalization of $15.67 billion, a PE ratio of 81.12, a P/E/G ratio of 4.27 and a beta of 0.77. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The firm’s 50-day simple moving average is $86.18 and its 200 day simple moving average is $91.92.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same period last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, research analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal 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.