Northwestern Mutual Wealth Management Co. Trims Stock Position in Okta, Inc. $OKTA

Key Points

• Northwestern Mutual Wealth Management Co. has reduced its stake in Okta, Inc. by 50.3%, selling 7,275 shares and now holding 7,185 shares valued at approximately $756,000.
• A number of institutional investors have increased their shares in Okta, with RPG Investment Advisory LLC boosting its holdings by 108.1% during the same period.
• Analysts show a mixed outlook on Okta, with a consensus rating of "Moderate Buy" and an average target price of $118.25, following recent target adjustments from various firms.

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,185 shares of the company's stock after selling 7,275 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Okta were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. TD Private Client Wealth LLC raised its stake in shares of Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP increased its holdings in Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock worth $173,000 after purchasing an additional 92 shares during the period. GPS Wealth Strategies Group LLC raised its position in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after purchasing an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Okta by 18.9% in the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock worth $71,000 after buying an additional 108 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Okta by 3.7% during the first quarter. Stephens Inc. AR now owns 3,417 shares of the company's stock valued at $360,000 after buying an additional 121 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company's 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 transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 9,000 shares of Okta stock in a transaction on 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 owned 7,067 shares of the company's stock, valued at $706,700. The trade was a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 in the last 90 days. 5.68% of the stock is owned by insiders.

Okta Stock Performance

OKTA stock traded up $1.65 on Friday, hitting $91.39. 2,356,506 shares of the company's stock were exchanged, compared to its average volume of 3,739,559. The firm has a 50 day moving average price of $94.30 and a two-hundred day moving average price of $102.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The stock has a market cap of $16.00 billion, a P/E ratio of 107.31, a price-to-earnings-growth ratio of 4.38 and a beta of 0.83.

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

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Arete assumed coverage on shares of Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective for the company. Truist Financial upgraded shares of Okta from a "hold" rating to a "buy" rating and boosted their price target for the company from $100.00 to $125.00 in a report on Monday, August 25th. Barclays increased their price objective on shares of Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Zacks Research downgraded shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Finally, Mizuho lowered their target price on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.25.

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.