Los Angeles Capital Management LLC grew its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 282.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,658 shares of the company's stock after purchasing an additional 183,643 shares during the quarter. Los Angeles Capital Management LLC owned about 0.15% of Okta worth $26,015,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of OKTA. Atria Wealth Solutions Inc. purchased a new position in Okta during the 3rd quarter valued at about $201,000. Pathstone Family Office LLC purchased a new position in shares of Okta during the third quarter valued at approximately $262,000. DekaBank Deutsche Girozentrale boosted its position in shares of Okta by 28.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,958 shares of the company's stock worth $2,883,000 after purchasing an additional 7,811 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of Okta by 10.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,218 shares of the company's stock worth $588,000 after buying an additional 681 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Okta by 6.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 118,577 shares of the company's stock valued at $9,665,000 after buying an additional 7,286 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Jacques Frederic Kerrest sold 18,878 shares of Okta stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.00% of the stock is currently owned by company insiders.
Okta Price Performance
NASDAQ:OKTA traded down $2.24 on Wednesday, reaching $87.54. 1,336,064 shares of the company's stock traded hands, compared to its average volume of 2,189,064. The stock has a 50-day simple moving average of $94.50 and a 200-day simple moving average of $92.08. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The firm has a market cap of $14.73 billion, a PE ratio of -52.42 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19.
Wall Street Analyst Weigh In
OKTA has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Okta from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, May 30th. Robert W. Baird lifted their target price on shares of Okta from $90.00 to $108.00 and gave the stock an "outperform" rating in a report on Thursday, February 29th. BMO Capital Markets dropped their target price on shares of Okta from $110.00 to $100.00 and set a "market perform" rating on the stock in a research note on Monday, June 3rd. Mizuho raised their price target on shares of Okta from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Friday, May 17th. Finally, Piper Sandler boosted their price objective on shares of Okta from $85.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Nineteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $104.48.
View Our Latest Report on Okta
Okta Profile
(Free Report)
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.
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