Rhumbline Advisers Acquires 5,281 Shares of Okta, Inc. (NASDAQ:OKTA)

Rhumbline Advisers raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,785 shares of the company’s stock after buying an additional 5,281 shares during the period. Rhumbline Advisers owned about 0.11% of Okta worth $17,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Okta by 0.8% in the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock valued at $1,658,073,000 after purchasing an additional 128,906 shares during the last quarter. Sands Capital Management LLC grew its position in shares of Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares during the last quarter. First Trust Advisors LP grew its position in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares during the last quarter. Eminence Capital LP grew its position in shares of Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock valued at $172,969,000 after purchasing an additional 310,918 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Okta in the fourth quarter valued at approximately $150,794,000. Institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the transaction, the insider now directly owns 27,014 shares of the company’s stock, valued at $2,485,828.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 346,173 shares of company stock worth $32,765,801. Insiders own 7.00% of the company’s stock.

Okta Stock Down 1.6 %

Shares of OKTA opened at $71.27 on Tuesday. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of -42.68, a PEG ratio of 40.12 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. The stock has a fifty day moving average of $91.12 and a 200-day moving average of $95.05.

Analyst Ratings Changes

Several research firms have recently commented on OKTA. Truist Financial reaffirmed a “hold” rating and issued a $95.00 target price (down previously from $105.00) on shares of Okta in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, May 29th. Canaccord Genuity Group reduced their price target on Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Citigroup reduced their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Jefferies Financial Group reduced their price target on Okta from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $105.14.

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.