Public Employees Retirement Association of Colorado Decreases Stake in Okta, Inc. (NASDAQ:OKTA)

Public Employees Retirement Association of Colorado cut its stake in Okta, Inc. (NASDAQ:OKTA) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,785 shares of the company’s stock after selling 1,043 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.09% of Okta worth $15,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Okta by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after buying an additional 438,496 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Okta by 19.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after acquiring an additional 556 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in Okta by 57.2% during the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock worth $6,995,000 after acquiring an additional 28,119 shares during the period. Los Angeles Capital Management LLC lifted its stake in Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after purchasing an additional 183,643 shares in the last quarter. Finally, My Personal CFO LLC boosted its holdings in Okta by 14.0% in the 4th quarter. My Personal CFO LLC now owns 120,077 shares of the company’s stock valued at $10,871,000 after purchasing an additional 14,753 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 92,729 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $94.92, for a total value of $8,801,836.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 92,729 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $94.92, for a total transaction of $8,801,836.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,256 shares of company stock valued at $34,154,578. 7.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OKTA shares. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Tuesday, June 25th. Mizuho raised their price target on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. UBS Group cut their price objective on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Susquehanna lowered their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.58.

Okta Stock Performance

Okta stock opened at $94.23 on Tuesday. The business’s 50-day simple moving average is $92.68 and its two-hundred day simple moving average is $94.19. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The firm had revenue of $617.00 million for the quarter, compared to analyst estimates of $604.33 million. As a group, sell-side analysts forecast that Okta, Inc. will post -0.28 EPS for the current year.

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.