Okta, Inc. (NASDAQ:OKTA) Shares Bought by Strs Ohio

Strs Ohio raised its position in Okta, Inc. (NASDAQ:OKTA) by 9.6% during the 4th quarter, Holdings Channel reports. The firm owned 11,711 shares of the company’s stock after acquiring an additional 1,025 shares during the quarter. Strs Ohio’s holdings in Okta were worth $1,060,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OKTA. CWM LLC grew its holdings in Okta by 6.7% in the third quarter. CWM LLC now owns 2,582 shares of the company’s stock valued at $210,000 after purchasing an additional 162 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Okta by 13.0% during the third quarter. DnB Asset Management AS now owns 25,168 shares of the company’s stock valued at $2,051,000 after acquiring an additional 2,895 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Okta by 14.1% during the third quarter. Avior Wealth Management LLC now owns 4,921 shares of the company’s stock valued at $401,000 after acquiring an additional 608 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Okta during the third quarter valued at $135,000. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of Okta by 4.3% during the third quarter. Coronation Fund Managers Ltd. now owns 103,318 shares of the company’s stock valued at $8,421,000 after acquiring an additional 4,265 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at approximately $590,013.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Okta news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the completion of the sale, the chief accounting officer now owns 6,539 shares in the company, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the sale, the director now owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,779 shares of company stock worth $1,205,990. 7.36% of the stock is currently owned by company insiders.

Okta Stock Performance

Okta stock opened at $94.37 on Wednesday. The company has a market cap of $15.80 billion, a price-to-earnings ratio of -43.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The stock’s 50-day moving average is $99.32 and its 200-day moving average is $86.15.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million for the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. Equities analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on OKTA shares. Citigroup increased their price objective on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Westpark Capital raised Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Thursday, February 29th. Oppenheimer increased their price objective on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler increased their target price on Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their target price on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.39.

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.