AQR Capital Management LLC Increases Stake in Okta, Inc. $OKTA

Key Points

• AQR Capital Management LLC increased its stake in Okta, Inc. by 21.5%, acquiring an additional 182,400 shares to bring its total holdings to 1,032,042 shares worth approximately $107.8 million.
• Institutional investors own about 86.64% of Okta's stock, with multiple firms like Wolff Wiese Magana LLC and Harbour Investments Inc. significantly adding to their positions in the first quarter.
• Okta reported earnings that exceeded analyst expectations, posting $0.91 earnings per share and a revenue increase of 12.7% year-over-year, driving interest from analysts who have set a range of buy ratings on the stock.

AQR Capital Management LLC lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,042 shares of the company's stock after acquiring an additional 182,400 shares during the quarter. AQR Capital Management LLC owned approximately 0.59% of Okta worth $107,755,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OKTA. Wolff Wiese Magana LLC grew its position in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Okta during the first quarter worth about $27,000. Harbour Investments Inc. boosted 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 purchased a new position in Okta in the first quarter valued at about $31,000. Finally, Center for Financial Planning Inc. purchased a new position in Okta in the first quarter valued at about $47,000. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction that occurred 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 directly owned 7,067 shares in the company, valued at $706,700. The trade was a 56.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction that occurred on 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 owned 7,044 shares of the company's stock, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock valued at $8,382,790 over the last quarter. Company insiders own 5.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Zacks Research cut shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Stephens reiterated an "equal weight" rating and issued a $127.00 target price on shares of Okta in a research note on Tuesday, May 27th. Royal Bank Of Canada boosted their target price on shares of Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Finally, Bank of America reiterated an "underperform" rating and issued a $75.00 target price on shares of Okta in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $118.25.

Okta Stock Performance

Okta stock traded up $1.20 during midday trading on Monday, reaching $92.68. 2,346,705 shares of the stock were exchanged, compared to its average volume of 3,738,122. The company's fifty day moving average is $94.16 and its 200-day moving average is $102.11. The firm has a market cap of $16.23 billion, a PE ratio of 109.04, a PEG ratio of 4.46 and a beta of 0.83. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the prior year, the firm posted $0.72 EPS. Okta's revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal 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.