Public Employees Retirement Association of Colorado Reduces Position in Okta, Inc. (NASDAQ:OKTA)

Public Employees Retirement Association of Colorado decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 149,343 shares of the company’s stock after selling 442 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Okta were worth $13,980,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OKTA. Intech Investment Management LLC grew its position in shares of Okta by 36.4% in the second quarter. Intech Investment Management LLC now owns 15,116 shares of the company’s stock valued at $1,415,000 after purchasing an additional 4,031 shares during the period. Inspire Investing LLC grew its position in shares of Okta by 15.4% in the second quarter. Inspire Investing LLC now owns 26,882 shares of the company’s stock valued at $2,516,000 after purchasing an additional 3,586 shares during the period. XTX Topco Ltd grew its position in shares of Okta by 21.0% in the second quarter. XTX Topco Ltd now owns 7,531 shares of the company’s stock valued at $705,000 after purchasing an additional 1,309 shares during the period. Elo Mutual Pension Insurance Co grew its position in shares of Okta by 1.7% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,691 shares of the company’s stock valued at $1,375,000 after purchasing an additional 250 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Okta by 12.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,676 shares of the company’s stock valued at $1,655,000 after purchasing an additional 1,975 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $95.12, for a total value of $199,752.00. The disclosure for this sale can be found here. Insiders have sold 347,411 shares of company stock worth $32,837,280 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKTA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Thursday, August 29th. Wells Fargo & Company lowered their price objective on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. DA Davidson lowered their price target on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Citigroup lowered their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Jefferies Financial Group lowered their price target on Okta from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.14.

Okta Trading Up 1.0 %

NASDAQ:OKTA opened at $75.75 on Friday. 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, Inc. has a one year low of $65.04 and a one year high of $114.50. The business’s 50-day simple moving average is $87.37 and its 200 day simple moving average is $93.61. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of -45.36, a price-to-earnings-growth ratio of 41.00 and a beta of 1.01.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $632.24 million. As a group, sell-side analysts predict that Okta, Inc. will post 0.08 earnings per share for the current fiscal year.

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.