Teacher Retirement System of Texas Takes $2.52 Million Position in Okta, Inc. (NASDAQ:OKTA)

Teacher Retirement System of Texas bought a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,961 shares of the company's stock, valued at approximately $2,521,000.

A number of other large investors have also bought and sold shares of the company. Marshall Wace LLP increased its position in Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after buying an additional 938,509 shares during the last quarter. Norges Bank purchased a new stake in Okta in the fourth quarter worth $234,992,000. Geode Capital Management LLC increased its position in Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after buying an additional 135,110 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho reduced their price target on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their price target on Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. UBS Group reduced their price target on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Canaccord Genuity Group lifted their price target on Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $135.00 price target (up from $110.00) on shares of Okta in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $119.44.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the transaction, the director directly owned 2,832 shares of the company's stock, valued at approximately $284,021.28. This represents a 17.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,244 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider directly owned 23,640 shares in the company, valued at $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,930 shares of company stock worth $391,511 in the last 90 days. 5.68% of the stock is currently owned by company insiders.

Okta Stock Down 3.0%

Shares of Okta stock traded down $2.85 during midday trading on Friday, hitting $91.56. The company had a trading volume of 3,065,153 shares, compared to its average volume of 3,120,540. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $16.03 billion, a P/E ratio of 145.34, a P/E/G ratio of 4.43 and a beta of 0.82. The company has a 50 day moving average of $107.71 and a 200 day moving average of $100.98. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal 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.