Teza Capital Management LLC Decreases Stock Holdings in Okta, Inc. $OKTA

Key Points

• Teza Capital Management LLC significantly reduced its holdings in Okta, Inc. by 53% during the first quarter, owning 9,349 shares valued at approximately $984,000 after selling 10,535 shares.
• Multiple institutional investors increased their stakes in Okta, with Wolff Wiese Magana LLC leading with a 167.4% increase.
• Okta's stock recently opened at $91.48, experiencing a growth of 1.9%, and the company posted earnings of $0.91 per share, beating analyst expectations of $0.84.

Teza Capital Management LLC reduced its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 53.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,349 shares of the company's stock after selling 10,535 shares during the quarter. Teza Capital Management LLC's holdings in Okta were worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Okta by 3.4% in the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after acquiring an additional 582,956 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after purchasing an additional 4,171 shares during the last quarter. Trek Financial LLC purchased a new stake in Okta in the 1st quarter worth about $426,000. Merit Financial Group LLC bought a new stake in Okta in the first quarter worth about $823,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Okta during the first quarter valued at approximately $515,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

Okta stock traded down $1.21 during midday trading on Friday, hitting $90.75. 803,711 shares of the company's stock were exchanged, compared to its average volume of 3,703,167. Okta, Inc. has a 12 month low of $70.92 and a 12 month high of $127.57. The firm has a 50-day moving average of $93.62 and a two-hundred day moving average of $101.98. The company has a market cap of $15.89 billion, a PE ratio of 106.83, a P/E/G ratio of 4.40 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. 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 business earned $0.72 EPS. The firm'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. As a group, equities analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the 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 transaction, the insider directly owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their position. The sale was disclosed in a legal filing 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 transaction, the executive owned 7,067 shares in the company, valued at approximately $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 sold 88,594 shares of company stock worth $8,382,790 over the last quarter. Corporate insiders own 5.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on OKTA shares. Guggenheim reaffirmed a "buy" rating and set a $138.00 target price on shares of Okta in a research note on Wednesday, August 27th. Scotiabank cut their price objective on Okta from $115.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 27th. Arete Research upgraded Okta to a "strong sell" rating and set a $83.00 target price for the company in a research report on Monday, July 7th. The Goldman Sachs Group boosted their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Truist Financial raised shares of Okta from a "hold" rating to a "buy" rating and raised their price target for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average 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.