Okta, Inc. (NASDAQ:OKTA) Shares Acquired by abrdn plc

abrdn plc boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,692 shares of the company's stock after buying an additional 32,085 shares during the period. abrdn plc owned approximately 0.07% of Okta worth $11,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Okta by 6.7% in the third quarter. CWM LLC now owns 2,582 shares of the company's stock valued at $210,000 after acquiring an additional 162 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Okta by 14.1% during the third quarter. Avior Wealth Management LLC now owns 4,921 shares of the company's stock worth $401,000 after buying an additional 608 shares during the period. Ballentine Partners LLC acquired a new position in shares of Okta during the third quarter worth $222,000. Slow Capital Inc. increased its position in shares of Okta by 2.5% during the third quarter. Slow Capital Inc. now owns 27,598 shares of the company's stock worth $2,250,000 after purchasing an additional 682 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Okta by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company's stock worth $2,307,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The shares were 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 in the company, valued at approximately $590,013.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Shibu Ninan sold 2,500 shares of the firm's stock in a transaction on Friday, February 16th. The shares were 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 approximately $590,013.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta 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 sale, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock worth $1,205,990 in the last quarter. 7.36% of the stock is owned by insiders.

Analysts Set New Price Targets

OKTA has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on Okta from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Jefferies Financial Group reissued a "hold" rating and issued a $95.00 target price (up from $85.00) on shares of Okta in a research report on Friday, January 5th. Evercore ISI upped their target price on Okta from $70.00 to $102.00 and gave the company an "in-line" rating in a research report on Thursday, February 29th. BMO Capital Markets upped their target price on Okta from $80.00 to $110.00 and gave the company a "market perform" rating in a research report on Thursday, February 29th. Finally, Westpark Capital raised Okta from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Okta presently has an average rating of "Hold" and a consensus price target of $100.39.

Okta Trading Down 0.7 %

NASDAQ OKTA traded down $0.64 during mid-day trading on Friday, reaching $92.29. 793,365 shares of the stock were exchanged, compared to its average volume of 1,923,749. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The business's fifty day simple moving average is $99.58 and its 200 day simple moving average is $86.31. The stock has a market capitalization of $15.45 billion, a PE ratio of -42.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. On average, research analysts anticipate that Okta, Inc. will post -1.51 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.