Vanguard Personalized Indexing Management LLC Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Vanguard Personalized Indexing Management LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,676 shares of the company’s stock after buying an additional 1,975 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Okta were worth $1,655,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sands Capital Management LLC boosted its holdings in shares of Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after acquiring an additional 2,486,456 shares in the last quarter. First Trust Advisors LP boosted its holdings in Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares in the last quarter. Point72 Asset Management L.P. increased its position in Okta by 1,465.8% during the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock worth $61,823,000 after purchasing an additional 732,900 shares during the period. Vanguard Group Inc. raised its stake in shares of Okta by 2.9% during the 4th 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. Finally, Eminence Capital LP lifted its holdings in shares of Okta by 19.4% in the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock valued at $172,969,000 after buying an additional 310,918 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were 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 in the company, valued at $4,473,229.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,280 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $95.64, for a total transaction of $313,699.20. The disclosure for this sale can be found here. Insiders have sold 347,411 shares of company stock worth $32,837,280 over the last quarter. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Susquehanna lowered their price target on shares of Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. UBS Group cut their price target on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $95.00 target price (down from $105.00) on shares of Okta in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.14.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $75.75 on Friday. The company has a 50-day simple moving average of $87.37 and a 200-day simple moving average of $93.61. 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 cap of $12.87 billion, a PE ratio of -45.36, a price-to-earnings-growth 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 announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. On average, equities analysts anticipate that Okta, Inc. will post 0.08 earnings per share for the current year.

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.