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

Wellington Management Group LLP grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 68.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,042 shares of the company's stock after purchasing an additional 13,869 shares during the quarter. Wellington Management Group LLP's holdings in Okta were worth $2,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in shares of Okta by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company's stock valued at $575,000 after acquiring an additional 250 shares during the period. Stifel Financial Corp raised its stake in shares of Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after buying an additional 13,387 shares during the period. MML Investors Services LLC lifted its position in shares of Okta by 43.2% during the 3rd quarter. MML Investors Services LLC now owns 33,333 shares of the company's stock valued at $2,478,000 after buying an additional 10,048 shares during the last quarter. Virtu Financial LLC purchased a new stake in Okta in the 3rd quarter worth about $2,436,000. Finally, Sanctuary Advisors LLC raised its stake in Okta by 125.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock valued at $861,000 after acquiring an additional 6,265 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKTA. Westpark Capital reiterated a "buy" rating and set a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Royal Bank of Canada lifted their price objective on shares of Okta from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Citigroup raised their price target on Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price objective on Okta from $90.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Finally, BTIG Research restated a "buy" rating on shares of Okta in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $116.03.

Okta Trading Down 2.0 %

NASDAQ:OKTA traded down $2.04 during midday trading on Friday, reaching $97.93. 1,898,455 shares of the stock traded hands, compared to its average volume of 2,554,358. The stock has a market capitalization of $17.00 billion, a P/E ratio of -279.80, a PEG ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a fifty day moving average of $102.38 and a 200 day moving average of $88.53. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of Okta 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 sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total value of $242,224.32. Following the transaction, the insider now owns 23,311 shares of the company's stock, valued at approximately $2,088,199.38. This represents a 10.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 768,202 shares of company stock worth $71,371,369. 7.00% of the stock is currently owned by company insiders.

About Okta

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.