Okta, Inc. $OKTA Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,244,062 shares of the company’s stock after purchasing an additional 36,304 shares during the period. Charles Schwab Investment Management Inc. owned about 0.71% of Okta worth $124,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new stake in Okta in the 2nd quarter worth about $26,000. Harbour Investments Inc. raised its holdings in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the last quarter. Kiker Wealth Management LLC lifted its position in shares of Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Okta by 126.0% during the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of research reports. DA Davidson restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Friday, September 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Okta in a research note on Friday, September 26th. Bank of America reaffirmed an “underperform” rating and set a $75.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Finally, Scotiabank dropped their price target on Okta from $115.00 to $105.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 27th. Twenty-three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $116.50.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares of the company’s stock, valued at approximately $654,474.87. This represents a 46.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 64,975 shares of company stock valued at $6,011,126. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Performance

Okta stock opened at $80.56 on Friday. The company’s 50 day simple moving average is $87.76 and its 200-day simple moving average is $95.41. Okta, Inc. has a 1 year low of $74.81 and a 1 year high of $127.57. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 94.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.84.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Equities 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.