Channel Wealth LLC Purchases Shares of 45,681 Okta, Inc. $OKTA

Channel Wealth LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,681 shares of the company’s stock, valued at approximately $4,189,000. Okta accounts for approximately 1.1% of Channel Wealth LLC’s portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKTA. Russell Investments Group Ltd. increased its holdings in Okta by 117.0% during the 1st quarter. Russell Investments Group Ltd. now owns 82,250 shares of the company’s stock worth $8,662,000 after purchasing an additional 44,355 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Okta by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,096,286 shares of the company’s stock worth $115,367,000 after buying an additional 7,693 shares in the last quarter. Aberdeen Group plc increased its stake in shares of Okta by 123.2% during the first quarter. Aberdeen Group plc now owns 103,654 shares of the company’s stock worth $10,906,000 after buying an additional 57,207 shares during the period. Northern Trust Corp raised its holdings in Okta by 7.9% in the first quarter. Northern Trust Corp now owns 1,080,533 shares of the company’s stock valued at $113,694,000 after acquiring an additional 79,506 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Okta by 8.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,350 shares of the company’s stock worth $1,299,000 after acquiring an additional 954 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. KeyCorp restated an “overweight” rating and issued a $140.00 price target on shares of Okta in a research note on Monday, December 1st. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Susquehanna dropped their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Twenty-four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.62.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the sale, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. This trade represents a 20.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 48,332 shares of company stock valued at $4,468,808. Insiders own 5.68% of the company’s stock.

Okta Stock Performance

Okta stock opened at $88.42 on Thursday. The company has a market capitalization of $15.67 billion, a P/E ratio of 81.12, a PEG ratio of 4.27 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The stock has a 50-day simple moving average of $86.18 and a 200-day simple moving average of $91.92.

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