Perpetual Ltd Sells 3,861 Shares of Okta, Inc. (NASDAQ:OKTA)

Perpetual Ltd reduced its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,874 shares of the company's stock after selling 3,861 shares during the period. Perpetual Ltd's holdings in Okta were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKTA. Marshall Wace LLP grew its holdings in shares of Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after acquiring an additional 938,509 shares in the last quarter. Norges Bank acquired a new position in Okta during the fourth quarter valued at approximately $234,992,000. Geode Capital Management LLC grew its stake in Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after purchasing an additional 1,572,786 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. DA Davidson lowered their price target on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on Okta and gave the company a "market perform" rating in a research note on Wednesday, May 28th. BTIG Research reiterated a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Finally, Oppenheimer boosted their target price on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and an average target price of $121.59.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 1,105 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $98.50, for a total transaction of $108,842.50. Following the sale, the insider now owns 25,884 shares of the company's stock, valued at approximately $2,549,574. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 581 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the transaction, the director now owns 2,832 shares of the company's stock, valued at $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,935 shares of company stock worth $1,100,347 in the last ninety days. 5.68% of the stock is owned by insiders.

Okta Trading Up 0.3%

Shares of Okta stock opened at $98.43 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 156.24, a PEG ratio of 4.76 and a beta of 0.84. The firm's 50-day moving average price is $109.10 and its two-hundred day moving average price is $99.99.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.

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