California State Teachers Retirement System Sells 4,251 Shares of Okta, Inc. (NASDAQ:OKTA)

California State Teachers Retirement System lessened its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,562 shares of the company's stock after selling 4,251 shares during the period. California State Teachers Retirement System owned 0.15% of Okta worth $19,902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Marshall Wace LLP raised its position in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of Okta in the fourth quarter worth $234,992,000. Geode Capital Management LLC raised its position in shares of 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 in the last quarter. Point72 Asset Management L.P. raised 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 worth $176,271,000 after buying an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. raised 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 worth $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares of the company's stock, valued at $1,117,935. The trade was a 37.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,452 shares of company stock worth $16,347,360. Insiders own 5.68% of the company's stock.

Okta Stock Down 3.6%

NASDAQ OKTA traded down $3.83 during mid-day trading on Friday, reaching $102.80. The stock had a trading volume of 7,711,011 shares, compared to its average volume of 2,942,376. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock has a market cap of $17.85 billion, a PE ratio of -293.71, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a fifty day moving average price of $109.26 and a 200 day moving average price of $96.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same period in the previous year, the business earned $0.65 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OKTA. Loop Capital began coverage on Okta in a research report on Monday, May 5th. They set a "buy" rating and a $140.00 price target on the stock. Evercore ISI raised their price target on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday. Scotiabank raised their price target on Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a research report on Wednesday. Truist Financial raised their price target on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Finally, Roth Capital restated a "buy" rating and set a $119.00 price target on shares of Okta in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average target price of $121.59.

About Okta

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.