Okta, Inc. (NASDAQ:OKTA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,015 shares of the company's stock after selling 13,496 shares during the period. Los Angeles Capital Management LLC's holdings in Okta were worth $5,886,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OKTA. NBC Securities Inc. acquired a new stake in Okta during the third quarter worth approximately $27,000. GAMMA Investing LLC acquired a new stake in shares of Okta in the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Okta in the third quarter valued at approximately $39,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Okta in the third quarter valued at approximately $64,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Okta in the third quarter valued at approximately $65,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on OKTA. Evercore ISI boosted their price objective on shares of Okta from $70.00 to $102.00 and gave the company an "in-line" rating in a research report on Thursday, February 29th. Piper Sandler boosted their target price on shares of Okta from $85.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Mizuho lifted their price objective on shares of Okta from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price objective on shares of Okta from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, February 29th. Finally, Citigroup raised their price objective on shares of Okta from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 10th. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $100.39.

Okta Stock Up 2.8 %

Okta stock traded up $2.70 during trading hours on Monday, hitting $99.25. The stock had a trading volume of 1,608,235 shares, compared to its average volume of 1,872,148. The stock's 50-day moving average price is $100.63 and its 200-day moving average price is $86.63. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The stock has a market capitalization of $16.61 billion, a P/E ratio of -44.49 and a beta of 0.98. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20.

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

Insiders Place Their Bets

In other Okta news, CAO Shibu Ninan sold 4,279 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Shibu Ninan sold 4,279 shares of the business's stock in a transaction on 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 owns 4,111 shares of the company's stock, valued at $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the business's 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 completion of the transaction, 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 sold a total of 11,779 shares of company stock worth $1,205,990 over the last three months. 7.36% 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.