Okta, Inc. (NASDAQ:OKTA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 17.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 65,015 shares of the company’s stock after selling 13,496 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Okta were worth $5,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC grew its position in shares of Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after acquiring an additional 3,121,809 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in Okta in the fourth quarter worth $54,125,000. Charles Schwab Investment Management Inc. increased its stake in Okta by 79.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 938,097 shares of the company’s stock valued at $76,464,000 after purchasing an additional 416,028 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of 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 buying an additional 192,513 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Okta by 2,721.2% in 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 during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $90.23, for a total value 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 over the last quarter. Company insiders own 7.36% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research reports. Oppenheimer increased their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group increased their price target on Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, February 29th. Citigroup increased their target price on Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada upped their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.39.

Okta Price Performance

NASDAQ OKTA opened at $96.55 on Monday. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The stock’s 50-day moving average price is $100.63 and its two-hundred day moving average price is $86.63. The company has a market cap of $16.16 billion, a PE ratio of -44.49 and a beta of 0.98. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

Okta (NASDAQ:OKTA) last issued its quarterly 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. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. On average, analysts predict that Okta, Inc. will post -1.51 EPS 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.