Los Angeles Capital Management LLC Has $4.91 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Los Angeles Capital Management LLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,290 shares of the company’s stock after acquiring an additional 1,330 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Okta were worth $4,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the 3rd quarter valued at $49,373,000. Nordea Investment Management AB boosted its stake in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after acquiring an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after purchasing an additional 277,084 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after purchasing an additional 184,107 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock valued at $85,025,665 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Okta Price Performance

NASDAQ:OKTA opened at $89.19 on Friday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The stock’s 50 day moving average price is $89.16 and its two-hundred day moving average price is $82.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of -254.83, a P/E/G ratio of 6.42 and a beta of 1.03.

Analysts Set New Price Targets

Several equities research analysts have commented on OKTA shares. Truist Financial reaffirmed a “hold” rating and issued a $92.00 target price (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Guggenheim restated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. DA Davidson lifted their target price on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group lowered their price target on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Stifel Nicolaus lifted their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.13.

Okta 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.