IMG Wealth Management Inc. Buys New Stake in Okta, Inc. $OKTA

IMG Wealth Management Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 925 shares of the company’s stock, valued at approximately $92,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in shares of Okta during the second quarter worth about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Okta in the first quarter valued at about $27,000. Harbour Investments Inc. raised its holdings in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares during the period. Rossby Financial LCC acquired a new position in Okta during the 1st quarter worth approximately $31,000. Finally, Kiker Wealth Management LLC lifted its position 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 acquiring an additional 313 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Stock Performance

OKTA opened at $88.32 on Tuesday. The company has a market capitalization of $15.46 billion, a P/E ratio of 103.91, a PEG ratio of 4.29 and a beta of 0.84. The company has a 50-day moving average of $91.23 and a 200-day moving average of $99.10. Okta, Inc. has a 1-year low of $70.92 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. 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, sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Okta

In other news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,657 shares of company stock worth $6,798,754 over the last quarter. 5.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on OKTA shares. Arete Research raised shares of Okta to a “strong sell” rating and set a $83.00 price objective for the company in a research report on Monday, July 7th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Jefferies Financial Group lifted their price target on shares of Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, August 27th. Guggenheim reissued a “buy” rating and issued a $138.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Finally, BTIG Research restated a “buy” rating and set a $142.00 target price on shares of Okta in a research note on Friday, September 26th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and an average price target of $118.94.

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.