Wellington Management Group LLP Has $1.45 Million Position in Okta, Inc. $OKTA

Key Points

• Wellington Management Group LLP reduced its stake in Okta, Inc. by 59.5% in Q1, leaving it with 13,799 shares valued at approximately $1.45 million.
• Several other institutional investors have recently made moves, including Wolff Wiese Magana LLC increasing its stake by 167.4% during the same quarter.
• Okta reported earnings per share of $0.91 for its last quarter, surpassing estimates, and revenue increased by 12.7% year-over-year.

Wellington Management Group LLP trimmed its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 59.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,799 shares of the company's stock after selling 20,243 shares during the period. Wellington Management Group LLP's holdings in Okta were worth $1,452,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in shares of Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after purchasing an additional 92 shares during the period. Allworth Financial LP grew its stake in Okta by 5.7% in the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after buying an additional 92 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in Okta by 7.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after acquiring an additional 100 shares during the period. First Horizon Advisors Inc. lifted its position in Okta by 18.9% during the 1st quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock worth $71,000 after acquiring an additional 108 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in 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 acquiring an additional 121 shares during the period. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of recent analyst reports. Stephens reiterated an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a research note on Tuesday, May 27th. UBS Group cut their price target on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Zacks Research cut Okta from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Bank of America reaffirmed an "underperform" rating and set a $75.00 target price on shares of Okta in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada increased their price target on shares of Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.25.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive directly owned 7,067 shares in the company, valued at $706,700. This represents a 56.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider directly 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 have sold 88,594 shares of company stock worth $8,382,790 over the last three months. 5.68% of the stock is currently owned by insiders.

Okta Price Performance

Shares of Okta stock traded up $0.54 during trading on Thursday, hitting $90.36. 1,330,753 shares of the company's stock traded hands, compared to its average volume of 3,739,085. The company has a market cap of $15.82 billion, a PE ratio of 106.35, a PEG ratio of 4.52 and a beta of 0.83. The firm's fifty day moving average price is $94.47 and its 200 day moving average price is $102.11. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly 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. The firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. 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 research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current 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.