Wellington Management Group LLP Cuts Stock Position in Okta, Inc. $OKTA

Wellington Management Group LLP lessened its position in shares of Okta, Inc. (NASDAQ:OKTA) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,457,153 shares of the company’s stock after selling 338,903 shares during the quarter. Wellington Management Group LLP owned about 0.84% of Okta worth $198,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Okta during the 4th quarter valued at $3,122,000. Swedbank AB grew its stake in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after buying an additional 1,007,915 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in Okta during the 1st quarter worth $2,077,000. Torque Asset Management LLC increased its position in Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after buying an additional 83,337 shares in the last quarter. Finally, Swiss National Bank increased its position in Okta by 7.7% during the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock valued at $39,142,000 after buying an additional 35,700 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKTA. New Street Research set a $200.00 price target on Okta in a report on Thursday. Citizens Jmp boosted their price target on Okta from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 27th. BMO Capital Markets increased their price objective on shares of Okta from $168.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Okta from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, Arete Research set a $127.00 target price on shares of Okta and gave the stock a “buy” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.92.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. The trade was a 16.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the transaction, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 140,376 shares of company stock worth $18,477,982. Corporate insiders own 4.61% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported fiscal Q2 revenue of $805 million, up 11% year over year, while non-GAAP EPS of $1.05 exceeded the $0.96 consensus estimate. Subscription backlog also remained strong, with remaining performance obligations increasing 17%, supporting expectations for continued demand. Okta gains as investors continue to digest strong quarterly results and a higher outlook
• Positive Sentiment: Management raised fiscal 2027 guidance to $3.216 billion–$3.226 billion in revenue and $3.90–$3.94 in non-GAAP EPS, reinforcing investor confidence in the company’s earnings trajectory. Why Okta Stock Skyrocketed This Week
• Positive Sentiment: Analyst sentiment has improved following the earnings report. Needham raised its price target to a Street-high $200, while other coverage highlights Okta’s margins, free cash flow, enterprise demand, and potential to secure AI agents and non-human identities. Okta Stock Just Got a New Street-High Price Target
• Positive Sentiment: The acquisition of Permiso Security adds cloud-native identity threat-detection capabilities and strengthens Okta’s positioning in the growing AI identity-security market. OKTA’s AI Security Push Gains Momentum Against CRWD and MSFT
• Neutral Sentiment: Institutional positioning was mixed, with 451 investors adding shares and 441 reducing positions in the latest quarter. A broader digital-identity market report points to long-term demand from passkeys, biometrics, and fraud prevention, but does not represent a direct company catalyst. Global Digital Identity and Trust Infrastructure Market 2026
• Negative Sentiment: Valuation and execution risks remain. Okta trades at a premium after its recent rally, while Microsoft and CrowdStrike intensify competition in identity and cybersecurity. Reported insider activity was also heavily weighted toward sales, including transactions by senior executives.

Okta Price Performance

OKTA stock opened at $173.04 on Tuesday. The company has a market capitalization of $30.08 billion, a P/E ratio of 104.24, a price-to-earnings-growth ratio of 5.76 and a beta of 0.77. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $174.85. The firm’s fifty day simple moving average is $142.48 and its 200-day simple moving average is $106.25.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, sell-side analysts forecast that Okta, Inc. will post 1.77 earnings per share for the current year.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.