Primecap Management Co. CA Has $99.71 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Primecap Management Co. CA lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 1.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,341,316 shares of the company's stock after selling 14,900 shares during the quarter. Primecap Management Co. CA owned about 0.79% of Okta worth $99,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Marshall Wace LLP boosted its stake in Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company's stock valued at $212,841,000 after purchasing an additional 1,227,890 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company's stock valued at $186,225,000 after buying an additional 305,381 shares during the period. Dimensional Fund Advisors LP boosted its stake in Okta by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company's stock valued at $96,388,000 after buying an additional 178,011 shares in the last quarter. Truist Financial Corp grew its holdings in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company's stock worth $48,870,000 after acquiring an additional 200,770 shares during the period. Finally, Swiss National Bank raised its position in Okta by 0.8% in the third quarter. Swiss National Bank now owns 477,700 shares of the company's stock worth $35,512,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKTA. Piper Sandler reduced their price objective on shares of Okta from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus decreased their price target on shares of Okta from $122.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 29th. Wells Fargo & Company reduced their price objective on Okta from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Finally, Citigroup cut 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. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $98.30.

Okta Stock Up 1.5 %

Shares of Okta stock traded up $1.12 during trading on Friday, hitting $76.57. 4,533,507 shares of the stock traded hands, compared to its average volume of 1,955,114. The company has a fifty day moving average price of $74.72 and a two-hundred day moving average price of $85.50. Okta, Inc. has a twelve month low of $66.69 and a twelve month high of $114.50. The stock has a market cap of $13.01 billion, a P/E ratio of -91.15, a PEG ratio of 18.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA - Get Free Report) last posted its 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. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Equities research analysts predict that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the firm's 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 approximately $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 over the last three months. 7.00% of the stock is currently owned by insiders.

Okta Company 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.