Great Lakes Advisors LLC Invests $557,000 in Okta, Inc. (NASDAQ:OKTA)

Great Lakes Advisors LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,155 shares of the company’s stock, valued at approximately $557,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Okta by 0.8% in the third quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock worth $1,245,564,000 after buying an additional 123,216 shares during the period. Sands Capital Management LLC raised its stake in Okta by 2.4% during the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock worth $478,623,000 after acquiring an additional 136,267 shares during the period. Cerity Partners LLC lifted its holdings in Okta by 6,192.3% during the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares in the last quarter. Eminence Capital LP boosted its position in shares of Okta by 7.7% in the third quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock worth $130,392,000 after purchasing an additional 113,994 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Okta by 8.2% in the third quarter. Legal & General Group Plc now owns 1,150,442 shares of the company’s stock worth $93,773,000 after purchasing an additional 87,102 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on OKTA shares. Oppenheimer lifted their target price on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Sanford C. Bernstein increased their target price on Okta from $84.00 to $114.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Evercore ISI boosted their price target on Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a report on Thursday, February 29th. Finally, Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.84.

Okta Price Performance

Shares of NASDAQ OKTA opened at $100.87 on Thursday. The business’s 50 day moving average price is $99.55 and its 200-day moving average price is $89.18. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. 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 released its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. The business had revenue of $605.00 million for 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, equities research analysts forecast that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company 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.