Asset Management One Co. Ltd. boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,382 shares of the company's stock after buying an additional 6,537 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.09% of Okta worth $10,733,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company's stock worth $1,265,000 after acquiring an additional 9,364 shares during the period. Truist Financial Corp boosted its stake in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company's stock valued at $48,870,000 after purchasing an additional 200,770 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Okta by 14.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,105 shares of the company's stock valued at $23,976,000 after purchasing an additional 28,183 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Okta by 75.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after buying an additional 4,932 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Okta during the 1st quarter worth $1,172,000. Institutional investors and hedge funds own 86.64% of the company's stock.
In other news, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares of the company's stock, valued at $638,908.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Larissa Schwartz sold 2,795 shares of Okta stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the completion of the sale, the insider now owns 27,014 shares of the company's stock, valued at approximately $2,485,828.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 478,584 shares of company stock worth $35,958,556. 7.00% of the stock is currently owned by company insiders.
OKTA has been the topic of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Okta from $113.00 to $97.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. DA Davidson dropped their price objective on Okta from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, October 17th. Needham & Company LLC initiated coverage on Okta in a research report on Thursday, October 17th. They issued a "buy" rating and a $100.00 price target on the stock. Truist Financial cut their price objective on shares of Okta from $95.00 to $80.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Okta from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $99.39.
Read Our Latest Analysis on Okta
Shares of Okta stock opened at $76.61 on Thursday. The company has a market cap of $13.01 billion, a P/E ratio of -91.20, a PEG ratio of 16.96 and a beta of 1.02. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $74.84 and a two-hundred day moving average price of $87.04. Okta, Inc. has a 1-year low of $65.98 and a 1-year high of $114.50.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.29. The firm 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%. As a group, analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.
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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