Royal London Asset Management Ltd. Increases Stock Position in Okta, Inc. (NASDAQ:OKTA)

Royal London Asset Management Ltd. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,938 shares of the company’s stock after buying an additional 2,131 shares during the period. Royal London Asset Management Ltd.’s holdings in Okta were worth $5,798,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. City State Bank increased its holdings in Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the period. First Command Advisory Services Inc. bought a new position in Okta during the second quarter worth about $47,000. nVerses Capital LLC bought a new position in Okta during the second quarter worth about $47,000. Finally, Principal Securities Inc. bought a new position in Okta during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the transaction, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,173 shares of company stock worth $32,765,801. Corporate insiders own 7.00% of the company’s stock.

Okta Stock Up 0.8 %

Shares of Okta stock opened at $74.06 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $89.41 and its two-hundred day simple moving average is $94.58. The company has a market cap of $12.58 billion, a P/E ratio of -44.35, a PEG ratio of 40.62 and a beta of 1.01. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKTA. BMO Capital Markets increased their target price on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Wells Fargo & Company cut their price objective on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. The Goldman Sachs Group cut their price objective on shares of Okta from $130.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Mizuho raised their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Finally, UBS Group cut their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $105.14.

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.