Okta, Inc. (NASDAQ:OKTA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,604 shares of the company’s stock after selling 4,960 shares during the quarter. California Public Employees Retirement System’s holdings in Okta were worth $24,317,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC boosted its position in Okta by 2.7% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 5,142 shares of the company’s stock valued at $466,000 after buying an additional 134 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Okta by 7.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock valued at $174,000 after buying an additional 138 shares during the last quarter. Choreo LLC boosted its position in Okta by 5.0% in the third quarter. Choreo LLC now owns 3,366 shares of the company’s stock valued at $274,000 after buying an additional 160 shares during the last quarter. CWM LLC boosted its position 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 buying an additional 162 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Okta by 19.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,207 shares of the company’s stock valued at $98,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OKTA shares. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, February 29th. Oppenheimer upped their target price on Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Bank of America upgraded Okta from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $64.00 to $135.00 in a research report on Thursday, February 29th. Sanford C. Bernstein upped their price objective on Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their price objective on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.39.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $92.29 on Monday. 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 fifty-two week low of $65.04 and a fifty-two week high of $114.50. The stock’s 50-day simple moving average is $99.58 and its 200-day simple moving average is $86.31.

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

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock valued at $1,205,990 over the last quarter. Company insiders own 7.36% of the company’s stock.

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.