Pallas Capital Advisors LLC Increases Stock Position in Okta, Inc. $OKTA

Pallas Capital Advisors LLC raised its position in Okta, Inc. (NASDAQ:OKTA) by 32.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,320 shares of the company’s stock after buying an additional 2,530 shares during the period. Pallas Capital Advisors LLC’s holdings in Okta were worth $1,032,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OKTA. Wolff Wiese Magana LLC grew its position in shares of Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Wayfinding Financial LLC purchased a new position in Okta during the first quarter worth approximately $27,000. Harbour Investments Inc. grew its holdings in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares during the period. Rossby Financial LCC purchased a new stake in shares of Okta in the first quarter valued at approximately $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OKTA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and upped their price target for the stock from $115.00 to $120.00 in a research report on Tuesday, August 26th. Westpark Capital reiterated a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, August 27th. Finally, Truist Financial raised Okta from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $125.00 in a report on Monday, August 25th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.25.

Okta Stock Performance

NASDAQ:OKTA opened at $93.60 on Friday. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The company has a 50 day moving average price of $92.97 and a 200 day moving average price of $102.04. The stock has a market capitalization of $16.39 billion, a P/E ratio of 110.12, a PEG ratio of 4.39 and a beta of 0.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 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 company had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’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. Research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider directly owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at $706,700. This represents a 56.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,664 shares of company stock valued at $7,991,279. 5.68% of the stock is owned by insiders.

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.