Okta, Inc. (NASDAQ:OKTA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 42.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,960 shares of the company's stock after selling 44,805 shares during the period. Los Angeles Capital Management LLC's holdings in Okta were worth $4,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. River Global Investors LLP raised its holdings in shares of Okta by 69.9% during the 3rd quarter. River Global Investors LLP now owns 22,144 shares of the company's stock worth $1,646,000 after acquiring an additional 9,114 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in shares of Okta by 10.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 105,750 shares of the company's stock worth $7,861,000 after acquiring an additional 10,000 shares during the period. Advisors Management Group Inc. ADV raised its holdings in shares of Okta by 32.3% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 11,758 shares of the company's stock worth $874,000 after acquiring an additional 2,871 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Okta during the 3rd quarter worth $56,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Okta by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 144,382 shares of the company's stock worth $10,733,000 after acquiring an additional 6,537 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Stock Performance

Shares of Okta stock traded up $0.20 during trading hours on Wednesday, hitting $78.42. 2,213,727 shares of the company were exchanged, compared to its average volume of 1,919,487. Okta, Inc. has a 1 year low of $66.69 and a 1 year 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. The business has a 50-day moving average of $74.45 and a 200-day moving average of $86.42. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of -93.36, a P/E/G ratio of 17.89 and a beta of 1.02.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analysts' expectations of $632.24 million. As a group, analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of several analyst reports. UBS Group reduced their price target on Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Bank of America lowered shares of Okta from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $135.00 to $75.00 in a report on Thursday, August 29th. BMO Capital Markets boosted their price objective on shares of Okta from $100.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 29th. Canaccord Genuity Group reduced their price objective on shares of Okta from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, October 18th. Finally, Morgan Stanley reduced their price objective on shares of Okta from $100.00 to $92.00 and set an "equal weight" rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $98.90.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 200,512 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 8,495 shares in the company, valued at $638,908.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 of the company's stock, valued at $638,908.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 2,790 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Okta 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.