Dimensional Fund Advisors LP Raises Stake in Okta, Inc. (NASDAQ:OKTA)

Dimensional Fund Advisors LP raised its position in Okta, Inc. (NASDAQ:OKTA) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,029,753 shares of the company’s stock after purchasing an additional 178,011 shares during the period. Dimensional Fund Advisors LP owned 0.61% of Okta worth $96,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise increased its holdings in Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock valued at $307,000 after buying an additional 122 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI raised its position in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. Finally, CWM LLC boosted its holdings in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after purchasing an additional 147 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 32,516 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Todd Mckinnon sold 32,516 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 34,620 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $96.04, for a total value of $3,324,904.80. The disclosure for this sale can be found here. Insiders have sold a total of 580,439 shares of company stock valued at $50,396,157 in the last ninety days. 7.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKTA. DA Davidson cut their price objective on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Westpark Capital reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Okta in a research report on Thursday, August 29th. Finally, BMO Capital Markets boosted their target price on Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. One equities 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 stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $104.62.

Okta Price Performance

Shares of OKTA opened at $75.83 on Wednesday. The firm has a market capitalization of $12.76 billion, a PE ratio of -45.41, a P/E/G ratio of 41.00 and a beta of 1.01. The stock’s 50 day moving average is $86.43 and its two-hundred day moving average is $93.01. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Research 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.