Charles Schwab Investment Management Inc. Increases Holdings in Okta, Inc. (NASDAQ:OKTA)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 967,688 shares of the company's stock after buying an additional 29,591 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of Okta worth $87,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC acquired a new position in Okta during the 4th quarter valued at about $1,975,000. Summit Trail Advisors LLC increased its position in Okta by 10.4% in the 4th quarter. Summit Trail Advisors LLC now owns 51,637 shares of the company's stock valued at $4,675,000 after acquiring an additional 4,852 shares during the period. Vestmark Advisory Solutions Inc. bought a new stake in Okta during the 4th quarter valued at $263,000. Benjamin F. Edwards & Company Inc. boosted its position in Okta by 1.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 15,136 shares of the company's stock worth $1,370,000 after acquiring an additional 189 shares during the period. Finally, Fisher Asset Management LLC bought a new position in shares of Okta in the fourth quarter worth $317,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKTA. Mizuho increased their price objective on shares of Okta from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Wedbush reiterated an "outperform" rating and issued a $130.00 price objective on shares of Okta in a report on Friday. Evercore ISI increased their price objective on shares of Okta from $70.00 to $102.00 and gave the company an "in-line" rating in a report on Thursday, February 29th. BMO Capital Markets increased their price objective on shares of Okta from $80.00 to $110.00 and gave the company a "market perform" rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Okta from $74.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, February 26th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $101.68.

Okta Stock Down 0.5 %

OKTA traded down $0.51 during mid-day trading on Tuesday, reaching $97.89. 933,322 shares of the stock were exchanged, compared to its average volume of 1,825,756. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The stock has a market capitalization of $16.39 billion, a PE ratio of -45.11 and a beta of 0.98. The company has a 50 day moving average price of $100.52 and a two-hundred day moving average price of $87.92. 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 posted 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. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. As a group, research analysts anticipate that Okta, Inc. will post -1.51 EPS for the current year.

Insider Transactions at Okta

In related news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares of the company's stock, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the firm's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company's stock, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,779 shares of company stock valued at $1,205,990. Company insiders own 7.36% of the company's stock.

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.