Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 478.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,215 shares of the company's stock after buying an additional 22,507 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Okta were worth $2,023,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in 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 buying an additional 9,364 shares during the period. Truist Financial Corp lifted its stake in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company's stock worth $48,870,000 after purchasing an additional 200,770 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after purchasing an additional 184,107 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Okta by 75.4% in the second quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after purchasing an additional 4,932 shares during the last quarter. Finally, River Global Investors LLP raised its holdings in Okta by 69.9% in the third quarter. River Global Investors LLP now owns 22,144 shares of the company's stock worth $1,646,000 after purchasing an additional 9,114 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKTA. Royal Bank of Canada decreased their target price on shares of Okta from $125.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Susquehanna lowered their price objective on Okta from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Citigroup reduced their target price on Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. The Goldman Sachs Group lowered their price target on Okta from $113.00 to $97.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Finally, DA Davidson cut their price objective on shares of Okta from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $98.30.

Okta Price Performance

NASDAQ OKTA traded up $0.33 on Tuesday, hitting $76.83. The company had a trading volume of 2,874,055 shares, compared to its average volume of 1,964,706. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market capitalization of $13.05 billion, a PE ratio of -91.46, a PEG ratio of 18.75 and a beta of 1.02. Okta, Inc. has a 12-month low of $66.69 and a 12-month high of $114.50. The company's fifty day moving average price is $74.77 and its 200-day moving average price is $85.17.

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

Insider Activity

In other news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,790 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 475,789 shares of company stock worth $35,701,361 over the last quarter. 7.00% of the stock is currently owned by corporate insiders.

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.