Royal London Asset Management Ltd. Has $5.80 Million Position in Okta, Inc. (NASDAQ:OKTA)

Royal London Asset Management Ltd. grew its position in Okta, Inc. (NASDAQ:OKTA) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,938 shares of the company’s stock after buying an additional 2,131 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Okta were worth $5,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Vanguard Group Inc. increased its position in Okta by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after purchasing an additional 128,906 shares in the last quarter. Sands Capital Management LLC increased its position in Okta by 42.3% during the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after purchasing an additional 2,486,456 shares in the last quarter. First Trust Advisors LP increased its position in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after purchasing an additional 897,216 shares in the last quarter. Eminence Capital LP increased its position in Okta by 19.4% during the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after purchasing an additional 310,918 shares in the last quarter. Finally, Norges Bank acquired a new position in Okta during the 4th quarter worth approximately $150,794,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial restated a “hold” rating and issued a $95.00 price target (down from $105.00) on shares of Okta in a research report on Thursday, August 29th. DA Davidson decreased their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Jefferies Financial Group decreased their price target on shares of Okta from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and upped their price target for the company from $102.00 to $122.00 in a research report on Thursday, May 30th. Finally, Piper Sandler decreased their price target on shares of Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.14.

Okta Stock Up 0.8 %

Shares of NASDAQ OKTA opened at $74.06 on Friday. The firm has a market cap of $12.58 billion, a PE ratio of -44.35, a P/E/G ratio of 40.62 and a beta of 1.01. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The company’s fifty day simple moving average is $89.41 and its 200 day simple moving average is $94.58. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Okta news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 346,173 shares of company stock valued at $32,765,801. Corporate insiders own 7.00% 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.