Wellington Management Group LLP Purchases 13,869 Shares of Okta, Inc. (NASDAQ:OKTA)

Wellington Management Group LLP lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 68.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,042 shares of the company's stock after acquiring an additional 13,869 shares during the quarter. Wellington Management Group LLP's holdings in Okta were worth $2,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in OKTA. Norges Bank bought a new stake in shares of Okta in the fourth quarter valued at about $234,992,000. Ameriprise Financial Inc. raised its holdings in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after acquiring an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Okta by 2,309.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after acquiring an additional 1,699,176 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in shares of Okta in the fourth quarter valued at about $105,592,000. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,452 shares of company stock worth $2,697,360. Corporate insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of several recent research reports. Guggenheim decreased their price objective on Okta from $140.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. BTIG Research reiterated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 28th. Scotiabank boosted their target price on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Finally, Barclays reduced their target price on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $121.59.

Okta Price Performance

Shares of NASDAQ OKTA opened at $104.18 on Friday. The business's 50 day moving average price is $108.85 and its 200 day moving average price is $97.64. The firm has a market cap of $18.09 billion, a P/E ratio of -297.66, a P/E/G ratio of 6.42 and a beta of 0.96. 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 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The business 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 posted $0.65 EPS. The business's quarterly revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta Company 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.

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