Forsta AP Fonden Acquires 10,600 Shares of Okta, Inc. (NASDAQ:OKTA)

Forsta AP Fonden boosted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 25.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,600 shares of the company's stock after purchasing an additional 10,600 shares during the period. Forsta AP Fonden's holdings in Okta were worth $3,910,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of OKTA. Wealth Enhancement Advisory Services LLC increased its stake in Okta by 25.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,233 shares of the company's stock worth $966,000 after purchasing an additional 1,878 shares during the period. First Trust Direct Indexing L.P. increased its stake in Okta by 15.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,848 shares of the company's stock worth $298,000 after purchasing an additional 388 shares during the period. Maryland State Retirement & Pension System increased its stake in Okta by 4.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 11,993 shares of the company's stock worth $1,255,000 after purchasing an additional 530 shares during the period. Principal Financial Group Inc. grew its position in shares of Okta by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company's stock worth $1,375,000 after buying an additional 2,925 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Okta by 23.1% in the 1st quarter. Private Advisor Group LLC now owns 26,861 shares of the company's stock worth $2,810,000 after buying an additional 5,043 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Okta news, insider Larissa Schwartz sold 2,795 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,793 shares of company stock worth $35,759,000. 7.00% of the stock is owned by insiders.

Okta Stock Down 1.9 %

Shares of OKTA stock traded down $1.41 during mid-day trading on Wednesday, hitting $72.40. The company's stock had a trading volume of 1,160,775 shares, compared to its average volume of 1,930,277. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The business has a 50-day moving average price of $76.81 and a 200 day moving average price of $87.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of -43.35, a PEG ratio of 16.72 and a beta of 1.02.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share 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 firm had revenue of $646.00 million during the quarter, compared to analysts' expectations of $632.24 million. Research analysts predict that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Okta from $100.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, September 24th. Royal Bank of Canada cut their price objective on Okta from $125.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. BTIG Research cut their price objective on Okta from $128.00 to $98.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on Okta from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. Finally, Scotiabank cut their price objective on Okta from $104.00 to $92.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $98.96.

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.