Los Angeles Capital Management LLC Raises Position in Okta, Inc. (NASDAQ:OKTA)

Los Angeles Capital Management LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,290 shares of the company’s stock after buying an additional 1,330 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Okta were worth $4,908,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Okta in the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in Okta in the fourth quarter valued at about $25,000. Blue Trust Inc. grew its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Okta during the 3rd quarter worth approximately $32,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta in the 4th quarter valued at approximately $44,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 0.4 %

Shares of NASDAQ:OKTA opened at $89.19 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of -254.83, a PEG ratio of 6.42 and a beta of 1.03. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a 50 day moving average price of $89.16 and a 200 day moving average price of $82.61.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OKTA shares. Truist Financial restated a “hold” rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Okta in a research report on Tuesday, February 4th. Mizuho increased their price target on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on Okta from $96.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $106.13.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock valued at $85,025,665 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

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.