Victory Capital Management Inc. Has $3.19 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Victory Capital Management Inc. trimmed its holdings in Okta, Inc. (NASDAQ:OKTA) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,968 shares of the company’s stock after selling 3,996 shares during the quarter. Victory Capital Management Inc.’s holdings in Okta were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Acadian Asset Management LLC lifted its stake in shares of Okta by 446.1% in the 1st quarter. Acadian Asset Management LLC now owns 8,476 shares of the company’s stock valued at $883,000 after purchasing an additional 6,924 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Okta by 16.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,074 shares of the company’s stock worth $322,000 after buying an additional 442 shares during the period. UniSuper Management Pty Ltd raised its stake in Okta by 109.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,300 shares of the company’s stock worth $241,000 after buying an additional 1,200 shares during the period. Advisors Asset Management Inc. raised its stake in Okta by 23.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,042 shares of the company’s stock worth $109,000 after buying an additional 199 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Okta by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 101,079 shares of the company’s stock worth $10,575,000 after buying an additional 4,823 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. This represents a 40.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 475,789 shares of company stock worth $35,701,361. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price target on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. The Goldman Sachs Group dropped their price objective on Okta from $113.00 to $97.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Scotiabank dropped their price target on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Finally, Truist Financial decreased their price objective on Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.30.

Okta Stock Performance

Shares of OKTA opened at $76.57 on Friday. The stock has a market cap of $13.01 billion, a P/E ratio of -91.15, a P/E/G ratio of 18.47 and a beta of 1.02. Okta, Inc. has a 52 week low of $66.69 and a 52 week high of $114.50. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $74.72 and its 200-day moving average price is $85.40.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for 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%. Equities research analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current fiscal 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.