Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the company’s stock after purchasing an additional 8,100 shares during the period. Forsta AP Fonden’s holdings in Okta were worth $3,932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after buying an additional 438,496 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Okta by 19.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after acquiring an additional 556 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of 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 during the last quarter. Principal Financial Group Inc. increased its position in shares of Okta by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock worth $1,375,000 after purchasing an additional 2,925 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Okta by 639.6% during the first quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock worth $7,417,000 after purchasing an additional 61,309 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Evercore ISI raised 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. Stifel Nicolaus decreased their price objective on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Truist Financial reissued a “hold” rating and set a $95.00 target price (down from $105.00) on shares of Okta in a report on Thursday, August 29th. Finally, Scotiabank decreased their price target on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.14.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The disclosure for this sale can be found here. Insiders sold a total of 346,173 shares of company stock worth $32,765,801 over the last 90 days. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

OKTA opened at $74.06 on Monday. The business has a 50 day moving average price of $89.41 and a two-hundred day moving average price of $94.69. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of -44.35, a price-to-earnings-growth ratio of 40.62 and a beta of 1.01. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

About Okta

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.