Public Employees Retirement System of Ohio Reduces Stake in Okta, Inc. (NASDAQ:OKTA)

Public Employees Retirement System of Ohio trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.6% during the third quarter, Holdings Channel reports. The firm owned 58,103 shares of the company’s stock after selling 919 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Okta were worth $4,319,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Marshall Wace LLP boosted its position in shares of Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after buying an additional 1,227,890 shares in the last quarter. Eminence Capital LP raised its position in Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock valued at $126,955,000 after purchasing an additional 10,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of analyst reports. Scotiabank increased their target price on Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Bank of America downgraded shares of Okta from a “buy” rating to an “underperform” rating and cut their target price for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Mizuho decreased their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Finally, Piper Sandler boosted their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.77.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares of the company’s stock, valued at $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 607,215 shares of company stock valued at $46,304,810. Corporate insiders own 7.00% of the company’s stock.

Okta Trading Down 2.3 %

NASDAQ:OKTA opened at $81.99 on Friday. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The business’s 50-day moving average is $76.84 and its two-hundred day moving average is $83.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $13.93 billion, a PE ratio of -234.26, a price-to-earnings-growth ratio of 8.93 and a beta of 1.00.

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.