Mutual of America Capital Management LLC Trims Stake in Okta, Inc. (NASDAQ:OKTA)

Mutual of America Capital Management LLC decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,133 shares of the company’s stock after selling 467 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Okta were worth $404,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after buying an additional 17,950 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after purchasing an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Okta during the third quarter valued at approximately $49,373,000. Allspring Global Investments Holdings LLC lifted its position in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Okta by 17.6% during the third quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after purchasing an additional 76,588 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

OKTA stock opened at $112.44 on Monday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $19.27 billion, a PE ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The business has a 50 day simple moving average of $91.72 and a 200-day simple moving average of $82.79.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Scotiabank raised their target price on Okta from $94.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 4th. Sanford C. Bernstein dropped their price target on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. BTIG Research increased their price objective on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets increased their price target on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.10.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 979,482 shares of company stock valued at $88,072,216. Insiders own 7.00% of the company’s stock.

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.