Strs Ohio Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Strs Ohio raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,711 shares of the company’s stock after purchasing an additional 1,025 shares during the quarter. Strs Ohio’s holdings in Okta were worth $1,060,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OKTA. NBC Securities Inc. purchased a new stake in shares of Okta in the third quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Okta in the third quarter worth about $39,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Okta in the third quarter worth about $64,000. Tucker Asset Management LLC purchased a new stake in shares of Okta in the third quarter worth about $65,000. Finally, UMB Bank n.a. boosted its stake in shares of Okta by 150.5% in the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In related news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s 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 transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,779 shares of company stock worth $1,205,990. Company insiders own 7.36% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent research reports. Robert W. Baird upped their target price on Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Truist Financial reiterated a “hold” rating and set a $105.00 price target (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Okta in a research report on Friday, January 5th. The Goldman Sachs Group increased their price target on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Piper Sandler increased their price target on Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $100.39.

Okta Trading Up 1.2 %

Shares of Okta stock opened at $94.37 on Wednesday. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of -43.49 and a beta of 1.00. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. 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 stock has a 50 day moving average of $99.32 and a 200 day moving average of $86.15.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. The company had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. As a group, research analysts predict that Okta, Inc. will post -1.51 earnings per share for the current year.

Okta 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.