Dimensional Fund Advisors LP Boosts Stake in Okta, Inc. (NASDAQ:OKTA)

Dimensional Fund Advisors LP grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,029,753 shares of the company’s stock after buying an additional 178,011 shares during the period. Dimensional Fund Advisors LP’s holdings in Okta were worth $96,388,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in OKTA. Massachusetts Financial Services Co. MA acquired a new position in Okta in the 2nd quarter valued at about $12,617,000. Angeles Investment Advisors LLC lifted its stake in shares of Okta by 4.2% during the second quarter. Angeles Investment Advisors LLC now owns 4,929 shares of the company’s stock valued at $461,000 after buying an additional 197 shares during the period. Plato Investment Management Ltd boosted its position in Okta by 82.4% during the second quarter. Plato Investment Management Ltd now owns 11,021 shares of the company’s stock worth $1,032,000 after acquiring an additional 4,979 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Okta in the 2nd quarter worth approximately $2,271,000. Finally, Envestnet Asset Management Inc. raised its holdings in Okta by 52.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 325,302 shares of the company’s stock valued at $30,452,000 after acquiring an additional 111,415 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jacques Frederic Kerrest sold 2,100 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $95.12, for a total transaction of $199,752.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jacques Frederic Kerrest sold 2,100 shares of the firm’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 value of $199,752.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 580,439 shares of company stock valued at $50,396,157. Company insiders own 7.00% of the company’s stock.

Okta Stock Down 0.5 %

Shares of Okta stock opened at $75.83 on Wednesday. The business has a 50-day moving average price of $86.43 and a 200 day moving average price of $93.01. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm has a market cap of $12.76 billion, a P/E ratio of -45.41, a P/E/G ratio of 41.00 and a beta of 1.01. 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 (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. On average, sell-side analysts forecast that Okta, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus cut their price objective on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. DA Davidson dropped their target price on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $102.00 to $122.00 in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of Okta from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $104.62.

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.