Los Angeles Capital Management LLC Purchases 80 Shares of Okta, Inc. (NASDAQ:OKTA)

Los Angeles Capital Management LLC raised its position in Okta, Inc. (NASDAQ:OKTA) by 4.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,828 shares of the company’s stock after buying an additional 80 shares during the period. Los Angeles Capital Management LLC’s holdings in Okta were worth $434,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new stake in shares of Okta during the third quarter worth $34,000. Mascoma Wealth Management LLC bought a new stake in shares of Okta during the third quarter worth $47,000. Focused Wealth Management Inc increased its position in shares of Okta by 68.9% during the third quarter. Focused Wealth Management Inc now owns 299 shares of the company’s stock worth $71,000 after acquiring an additional 122 shares in the last quarter. Harbor Investment Advisory LLC increased its position in shares of Okta by 19.9% during the third quarter. Harbor Investment Advisory LLC now owns 301 shares of the company’s stock worth $71,000 after acquiring an additional 50 shares in the last quarter. Finally, Asset Dedication LLC increased its position in shares of Okta by 17.4% during the third quarter. Asset Dedication LLC now owns 337 shares of the company’s stock worth $81,000 after acquiring an additional 50 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

NASDAQ OKTA opened at $204.41 on Friday. The firm has a 50-day moving average of $226.66 and a 200-day moving average of $240.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market cap of $31.79 billion, a PE ratio of -43.68 and a beta of 1.01. Okta, Inc. has a 52-week low of $184.02 and a 52-week high of $294.00.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, December 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.17. The company had revenue of $350.68 million during the quarter, compared to analysts’ expectations of $327.33 million. Okta had a negative net margin of 59.29% and a negative return on equity of 14.80%. During the same quarter last year, the company posted ($0.38) EPS. As a group, analysts predict that Okta, Inc. will post -4.37 EPS for the current fiscal year.

In related news, CEO Todd Mckinnon sold 18,363 shares of the firm’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $220.19, for a total transaction of $4,043,348.97. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Jonathan T. Runyan sold 1,680 shares of the firm’s stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $214.89, for a total transaction of $361,015.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,822 shares of company stock worth $13,329,783. 9.60% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on OKTA shares. Mizuho lowered their price objective on shares of Okta from $305.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 2nd. DA Davidson reduced their target price on shares of Okta from $315.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, December 2nd. Robert W. Baird reduced their target price on shares of Okta from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, December 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Okta from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Okta in a report on Thursday, December 2nd. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $282.92.

Okta Profile

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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