Aspen Investment Management Inc Invests $257,000 in Okta, Inc. $OKTA

Aspen Investment Management Inc bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,574 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbour Investments Inc. lifted 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 acquiring an additional 157 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Okta in the second quarter valued at approximately $26,000. Cullen Frost Bankers Inc. increased its stake in shares of Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares during the period. Kiker Wealth Management LLC lifted its holdings in Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Okta by 126.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKTA. BMO Capital Markets decreased their price objective on Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a report on Wednesday, August 27th. Citigroup restated a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Bank of America reaffirmed an “underperform” rating and set a $75.00 price target on shares of Okta in a research report on Wednesday, August 27th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Okta in a report on Friday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $115.00 target price on shares of Okta in a research report on Friday, September 26th. Twenty-three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.33.

Okta Price Performance

Shares of OKTA opened at $81.03 on Wednesday. The firm has a 50 day simple moving average of $89.33 and a two-hundred day simple moving average of $96.98. Okta, Inc. has a one year low of $71.84 and a one year high of $127.57. The company has a market cap of $14.19 billion, a P/E ratio of 95.33, a P/E/G ratio of 3.98 and a beta of 0.84.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating 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 the consensus estimate of $711.84 million. During the same quarter last year, the business posted $0.72 EPS. 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. On average, analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 6,091 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the transaction, the executive owned 7,067 shares of the company’s stock, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,975 shares of company stock valued at $6,011,126 over the last ninety days. 5.68% of the stock is owned by insiders.

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.