Algert Global LLC Sells 10,811 Shares of Okta, Inc. $OKTA

Key Points

• Algert Global LLC significantly reduced its holdings in Okta, Inc. by selling 10,811 shares, a decrease of 56.1%, leaving them with 8,459 shares valued at approximately $890,000.
• Okta's stock has seen a recent increase of 2.5%, with current trading around $92.05, and has a market capitalization of $16.12 billion along with a P/E ratio of 146.11.
• The company reported earnings of $0.86 per share for the last quarter, exceeding analysts’ expectations, with revenue reaching $688 million, a year-over-year increase of 11.5%.

Algert Global LLC lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,459 shares of the company's stock after selling 10,811 shares during the quarter. Algert Global LLC's holdings in Okta were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in OKTA. Wolff Wiese Magana LLC increased its stake in Okta by 167.4% in the first 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 last quarter. Wayfinding Financial LLC bought a new position in Okta in the first quarter valued at $27,000. Harbour Investments Inc. increased its stake 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 acquiring an additional 157 shares during the last quarter. Rossby Financial LCC bought a new position in Okta in the first quarter valued at $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Okta in the fourth quarter valued at $40,000. Institutional investors own 86.64% of the company's stock.

Okta Stock Up 2.5%

Shares of NASDAQ:OKTA opened at $92.05 on Friday. The stock's 50-day moving average price is $95.62 and its 200-day moving average price is $102.47. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The stock has a market capitalization of $16.12 billion, a P/E ratio of 146.11, a price-to-earnings-growth ratio of 4.45 and a beta of 0.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the previous year, the business earned $0.65 EPS. Okta's revenue was up 11.5% compared to the same quarter last year. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. On average, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their target price on Okta from $105.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday. UBS Group reduced their target price on Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. DA Davidson reduced their target price on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. The Goldman Sachs Group raised their price objective on Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Arete assumed coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 price objective on the stock. Twenty equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $117.92.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the sale, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive owned 7,067 shares in the company, valued at approximately $706,700. This trade represents a 56.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,594 shares of company stock worth $8,382,790. Insiders own 5.68% of the company's stock.

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.

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