Okta, Inc. (NASDAQ:OKTA) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lowered its holdings in Okta, Inc. (NASDAQ:OKTAFree Report) by 3.5% during the third quarter, HoldingsChannel.com reports. The fund owned 156,967 shares of the company’s stock after selling 5,720 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Okta were worth $12,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OKTA. Norges Bank bought a new position in Okta in the 4th quarter worth approximately $99,063,000. Champlain Investment Partners LLC increased its holdings in shares of Okta by 41.7% in the second quarter. Champlain Investment Partners LLC now owns 4,159,017 shares of the company’s stock valued at $288,428,000 after buying an additional 1,224,405 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Okta by 114.1% in the 2nd quarter. Whale Rock Capital Management LLC now owns 1,428,363 shares of the company’s stock valued at $99,057,000 after purchasing an additional 761,082 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Okta by 685.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 604,684 shares of the company’s stock valued at $41,318,000 after purchasing an additional 527,684 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Okta in the 1st quarter worth about $69,245,000. 77.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Larissa Schwartz sold 1,125 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $71.82, for a total value of $80,797.50. Following the sale, the insider now directly owns 20,352 shares in the company, valued at approximately $1,461,680.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Larissa Schwartz sold 1,125 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $71.82, for a total value of $80,797.50. Following the transaction, the insider now owns 20,352 shares of the company’s stock, valued at approximately $1,461,680.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 1,662 shares of Okta stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $83.33, for a total value of $138,494.46. Following the sale, the director now directly owns 1,905 shares of the company’s stock, valued at approximately $158,743.65. The disclosure for this sale can be found here. Insiders have sold 19,743 shares of company stock valued at $1,631,799 in the last 90 days. Insiders own 7.36% of the company’s stock.

Okta Trading Down 2.2 %

NASDAQ OKTA opened at $85.93 on Tuesday. The business’s 50-day moving average price is $83.67 and its two-hundred day moving average price is $78.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.23. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $92.38. The firm has a market capitalization of $14.21 billion, a PE ratio of -30.05 and a beta of 0.94.

Okta (NASDAQ:OKTAGet Free Report) last announced its quarterly earnings results on Wednesday, November 29th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. Okta had a negative net margin of 21.40% and a negative return on equity of 7.53%. The business had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $560.58 million. During the same quarter last year, the firm earned ($1.09) EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, analysts expect that Okta, Inc. will post -2.46 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKTA shares. Truist Financial boosted their price target on shares of Okta from $70.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective on shares of Okta in a research note on Wednesday, November 29th. JMP Securities assumed coverage on Okta in a research note on Monday, November 27th. They set a “market perform” rating on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 price target (down from $80.00) on shares of Okta in a report on Thursday, November 30th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Okta in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $87.81.

View Our Latest Stock Report on OKTA

Okta Profile

(Free Report)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta's, a suite of products and services is used to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.

See Also

Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTAFree Report).

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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