Free Trial

Sellaronda Global Management LP Has $8.94 Million Stock Position in Okta, Inc. $OKTA

Okta logo with Computer and Technology background

Key Points

  • Sellaronda Global Management LP reduced its holdings in Okta, Inc. by 22.7%, owning 85,000 shares valued at approximately $8.94 million as of the latest SEC filing.
  • Several institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services Co., have significantly increased their stakes in Okta during the first quarter, with institutional ownership at 86.64% of the stock.
  • Okta reported an earnings per share (EPS) of $0.86 for the last quarter, surpassing analysts' expectations and showing a year-over-year revenue growth of 11.5%.
  • Want stock alerts on Okta? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Sellaronda Global Management LP trimmed its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 22.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,000 shares of the company's stock after selling 25,000 shares during the quarter. Okta makes up approximately 8.9% of Sellaronda Global Management LP's holdings, making the stock its 8th biggest position. Sellaronda Global Management LP's holdings in Okta were worth $8,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after purchasing an additional 2,830,582 shares during the period. Point72 Asset Management L.P. increased its stake in Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after purchasing an additional 1,572,786 shares during the period. Ameriprise Financial Inc. increased its stake in Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the period. Finally, Ninety One UK Ltd purchased a new stake in Okta in the first quarter worth $189,915,000. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA opened at $91.15 on Wednesday. The business's 50 day moving average price is $96.12 and its 200 day moving average price is $102.55. The firm has a market cap of $15.96 billion, a P/E ratio of 144.68, a P/E/G ratio of 4.42 and a beta of 0.80. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 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 firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Okta's revenue for the quarter was up 11.5% on a year-over-year basis. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. On average, sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC raised their price target on Okta from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company lifted their target price on Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 28th. Mizuho cut their target price on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Jefferies Financial Group dropped their price target on Okta from $130.00 to $105.00 and set a "hold" rating on the stock in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Twenty research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Okta presently has an average rating of "Hold" and a consensus price target of $118.06.

View Our Latest Analysis on Okta

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the transaction, the chief executive officer directly owned 20,682 shares of the company's stock, valued at $1,970,994.60. This represents a 60.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the transaction, the director directly owned 2,832 shares of the company's stock, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. 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. Corporate insiders own 5.68% of the company's stock.

About Okta

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Okta Right Now?

Before you consider Okta, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Okta wasn't on the list.

While Okta currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Next Tech Boom: AI Robots Are Coming Sooner Than You Think!
Tech Stocks Stumble: Will Nvidia’s Report Spark a Rebound?
Follow the Money: 5 Stocks Institutions Are Buying NOW

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines