Mutual of America Capital Management LLC Sells 639 Shares of Okta, Inc. (NASDAQ:OKTA)

Mutual of America Capital Management LLC cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,773 shares of the company’s stock after selling 639 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Okta were worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Okta by 79.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company’s stock worth $76,464,000 after acquiring an additional 416,028 shares during the last quarter. Glenmede Trust Co. NA raised its position in Okta by 1,042.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 210,981 shares of the company’s stock worth $17,197,000 after purchasing an additional 192,513 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after buying an additional 169,830 shares in the last quarter. Alua Capital Management LP bought a new position in Okta in the 3rd quarter valued at $12,775,000. Finally, Sands Capital Management LLC increased its stake in shares of Okta by 2.4% in the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after buying an additional 136,267 shares during the period. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on OKTA shares. Royal Bank of Canada boosted their price objective on Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Evercore ISI increased their price objective on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Sanford C. Bernstein lifted their target price on shares of Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. BMO Capital Markets upped their target price on shares of Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Finally, Oppenheimer raised their price target on Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Hold” and a consensus target price of $100.39.

Okta Stock Performance

OKTA opened at $94.37 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The business’s 50-day simple moving average is $99.32 and its 200 day simple moving average is $86.15. The firm has a market capitalization of $15.80 billion, a PE ratio of -43.49 and a beta of 1.00. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating 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 company had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. As a group, sell-side analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Activity

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

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.