Los Angeles Capital Management LLC Increases Stake in Okta, Inc. (NASDAQ:OKTA) (2024)

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.

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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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Los Angeles Capital Management LLC Increases Stake in Okta, Inc. (NASDAQ:OKTA) (3)

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Los Angeles Capital Management LLC Increases Stake in Okta, Inc. (NASDAQ:OKTA) (2024)


Who are the top shareholders of Okta? ›

Vanguard Fiduciary Trust Co. 9.849 %15,848,5259.849 %
Fidelity Management & Research Co. LLC 9.401 %15,127,9949.401 %
Sands Capital Management LLC 5.617 %9,038,6775.617 %
BlackRock Advisors LLC 4.671 %7,516,3604.671 %
6 more rows

Who owns Okta stock? ›

The ownership structure of Okta (OKTA) stock is a mix of institutional, retail and individual investors. Approximately 71.65% of the company's stock is owned by Institutional Investors, 3.79% is owned by Insiders and 24.56% is owned by Public Companies and Individual Investors.

What is the price target for Okta Nasdaq? ›

The average price target for Okta is $114.13. This is based on 28 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $130.00 ,the lowest forecast is $95.00. The average price target represents 30.37% Increase from the current price of $87.54.

Is Okta stock a good investment? ›

The financial health and growth prospects of OKTA, demonstrate its potential to underperform the market. It currently has a Growth Score of A. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of B.

Is Okta an Israeli company? ›

(formerly SaaSure Inc.) is an American identity and access management company based in San Francisco. It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, website, web services, and devices.

How much debt does Okta have? ›

Total debt on the balance sheet as of April 2024 : $1.26 B

According to Okta's latest financial reports the company's total debt is $1.26 B. A company's total debt is the sum of all current and non-current debts.

Who is Okta's biggest competitor? ›

Top Competitors and Alternatives of Okta

The top three of Okta's competitors in the Single Sign-On (SSO) category are OneLogin with 40.79%, OneAll with 21.57%, AWS Single Sign-On with 5.33% market share.

What exactly does Okta do? ›

Okta connects any person with any application on any device. It's an enterprise-grade, identity management service, built for the cloud, but compatible with many on-premises applications. With Okta, IT can manage any employee's access to any application or device.

What is the Okta stock prediction for 2025? ›

Okta Stock Prediction 2025

The Okta stock prediction for 2025 is currently $ 124.80, assuming that Okta shares will continue growing at the average yearly rate as they did in the last 10 years. This would represent a 37.55% increase in the OKTA stock price.

Is Okta making money? ›

Okta's overall revenue climbed 19% year over year in Q1 to $617 million, while subscription revenue jumped 20% to $603 million. Adjusted earnings per share (EPS) soared from $0.22 a year ago to $0.62. The company had guided for 16% to 17% revenue growth and adjusted EPS between $0.54 and $0.55.

Will Okta stock recover? ›

Based on short-term price targets offered by 33 analysts, the average price target for Okta comes to $110.27. The forecasts range from a low of $70.00 to a high of $140.00. The average price target represents an increase of 19.38% from the last closing price of $92.37.

Why did Okta stock drop? ›

Last year, Okta had its customer support system hacked and data stolen from its customers who use the system. Given that the company's products are used to help prevent these types of attacks, it obviously was not a good look.

Who are the founders of Okta? ›

Todd McKinnon is the CEO and co-founder of Okta, the leading independent Identity provider, which he co-founded in 2009 with Frederic Kerrest. Under Todd's leadership, Okta has transformed the way millions of people access the digital world and put Identity at the forefront of security and business growth.

Who are the top holders of Nvta? ›

Largest shareholders include ARKK - ARK Innovation ETF, ARKG - ARK Genomic Revolution ETF, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, IWM - iShares Russell 2000 ETF, State of Wyoming, FSSNX - Fidelity Small Cap Index Fund, IWO - iShares Russell 2000 Growth ETF, PRFZ - Invesco FTSE RAFI US 1500 ...

Is Okta the market leader? ›

Okta has market share of 26.86% in identity-access-management market. Okta competes with 26 competitor tools in identity-access-management category. The top alternatives for Okta identity-access-management tool are OneLogin with 49.65%, Gigya with 6.08%, DIGIPASS with 5.07% market share.

Who are the largest shareholders of the trade desk? ›

Top Shareholders

The Vanguard Group, Inc. Baillie Gifford & Co. BlackRock, Inc.

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