Charles Schwab Investment Management Inc. Has $79.50 Million Position in Okta, Inc. (NASDAQ:OKTA)

Charles Schwab Investment Management Inc. increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,069,452 shares of the company’s stock after buying an additional 17,950 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.63% of Okta worth $79,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. O Shaughnessy Asset Management LLC grew its stake in shares of Okta by 16.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,074 shares of the company’s stock worth $322,000 after acquiring an additional 442 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Okta by 23.6% during the first quarter. Advisors Asset Management Inc. now owns 1,042 shares of the company’s stock worth $109,000 after purchasing an additional 199 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Okta by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 101,079 shares of the company’s stock valued at $10,575,000 after purchasing an additional 4,823 shares in the last quarter. Tidal Investments LLC increased its stake in Okta by 15.7% in the 1st quarter. Tidal Investments LLC now owns 5,405 shares of the company’s stock valued at $565,000 after buying an additional 734 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in Okta by 594.5% during the 1st quarter. Plato Investment Management Ltd now owns 6,042 shares of the company’s stock worth $632,000 after buying an additional 5,172 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BTIG Research lowered their target price on Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group lowered their price target on Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company cut their price objective on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. UBS Group lowered their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Barclays initiated coverage on shares of Okta in a research note on Tuesday, November 19th. They issued an “equal weight” rating and a $81.00 price target for the company. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.30.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 32,516 shares of Okta stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction dated Monday, November 4th. The stock was 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 directly owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 over the last three months. Insiders own 7.00% of the company’s stock.

Okta Trading Down 0.5 %

Shares of Okta stock opened at $76.42 on Thursday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12-month low of $66.69 and a 12-month high of $114.50. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of -90.98, a PEG ratio of 18.73 and a beta of 1.02. The firm’s 50-day moving average price is $74.82 and its two-hundred day moving average price is $85.02.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. On average, analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

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.