Okta, Inc. (NASDAQ:OKTA) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. lifted its position in Okta, Inc. (NASDAQ:OKTA) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,771 shares of the company’s stock after acquiring an additional 5,209 shares during the quarter. APG Asset Management N.V. owned 0.09% of Okta worth $13,868,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OKTA. Gilbert & Cook Inc. increased its stake in Okta by 21.4% during the fourth quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock valued at $1,376,000 after purchasing an additional 2,676 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Okta by 3,886.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,514 shares of the company’s stock valued at $2,310,000 after buying an additional 24,874 shares during the last quarter. TD Asset Management Inc raised its stake in Okta by 76.1% during the fourth quarter. TD Asset Management Inc now owns 34,810 shares of the company’s stock worth $3,151,000 after acquiring an additional 15,039 shares during the period. Focus Financial Network Inc. ADV bought a new position in Okta in the fourth quarter worth about $626,000. Finally, Capstone Investment Advisors LLC acquired a new position in Okta in the fourth quarter valued at approximately $491,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $73.99 on Friday. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of -44.31, a PEG ratio of 37.51 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. The stock’s fifty day simple moving average is $85.21 and its 200 day simple moving average is $92.41.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, sell-side analysts forecast that Okta, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now owns 29,809 shares in the company, valued at $2,963,014.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now owns 29,809 shares in the company, valued at approximately $2,963,014.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 578,339 shares of company stock valued at $50,196,405. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on OKTA shares. Robert W. Baird cut their price target on Okta from $108.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Bank of America downgraded shares of Okta from a “buy” rating to an “underperform” rating and reduced their price target for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Piper Sandler dropped their price objective on shares of Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Jefferies Financial Group reduced their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their target price 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. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.62.

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.