Okta, Inc. (NASDAQ:OKTA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,343 shares of the company’s stock after selling 442 shares during the period. Public Employees Retirement Association of Colorado owned about 0.09% of Okta worth $13,980,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. City State Bank raised its position in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Okta in the 2nd quarter valued at about $47,000. nVerses Capital LLC acquired a new stake in Okta in the 2nd quarter valued at about $47,000. Finally, Principal Securities Inc. acquired a new stake in Okta in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 1.0 %

OKTA opened at $75.75 on Friday. 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 business has a 50 day simple moving average of $87.37 and a 200-day simple moving average of $93.61. The stock has a market capitalization of $12.87 billion, a P/E ratio of -45.36, a P/E/G ratio of 41.00 and a beta of 1.01. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, equities analysts anticipate that Okta, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on OKTA. Scotiabank dropped their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. Canaccord Genuity Group dropped their price objective on Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. DA Davidson dropped their price objective on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Robert W. Baird dropped their price objective on Okta from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $105.14.

Insider Activity

In other news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction on Friday, July 19th. The stock was 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 of the company’s stock, valued at $4,473,229.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 2,100 shares of Okta stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The disclosure for this sale can be found here. Insiders sold 347,411 shares of company stock valued at $32,837,280 in the last three months. 7.00% 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.