Asset Management One Co. Ltd. Buys 6,537 Shares of Okta, Inc. (NASDAQ:OKTA)

Asset Management One Co. Ltd. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,382 shares of the company’s stock after acquiring an additional 6,537 shares during the period. Asset Management One Co. Ltd.’s holdings in Okta were worth $10,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the last quarter. Eminence Capital LP increased its stake in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after buying an additional 305,381 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Okta by 232.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after acquiring an additional 178,011 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the sale, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the transaction, the insider now directly owns 27,014 shares in the company, valued at approximately $2,485,828.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 478,584 shares of company stock valued at $35,958,556 in the last quarter. Insiders own 7.00% of the company’s stock.

Okta Price Performance

Okta stock opened at $76.61 on Thursday. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of -91.20, a PEG ratio of 16.96 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $74.84 and a 200 day simple moving average of $87.04. Okta, Inc. has a 52 week low of $65.98 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, research analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on OKTA shares. Needham & Company LLC started coverage on Okta in a report on Thursday, October 17th. They set a “buy” rating and a $100.00 price target on the stock. Canaccord Genuity Group cut their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Mizuho decreased their price objective on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Scotiabank lowered their price objective on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. Finally, Piper Sandler reduced their target price on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $99.39.

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.