Catalyst Capital Advisors LLC Purchases New Holdings in Okta, Inc. (NASDAQ:OKTA)

Catalyst Capital Advisors LLC acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, Holdings Channel reports. The firm acquired 749 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP increased its stake in shares of Okta by 117.4% in the second 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 during the last quarter. Eminence Capital LP grew its holdings in Okta by 18.1% during the 2nd 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 in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Okta by 232.0% in the 3rd 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 last quarter. Truist Financial Corp raised its stake in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Okta by 20.9% during the second 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. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 3.4 %

Shares of NASDAQ:OKTA opened at $76.61 on Thursday. The company has a 50 day moving average of $74.84 and a 200-day moving average of $87.04. 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 firm has a market cap of $13.01 billion, a P/E ratio of -91.20, a P/E/G ratio of 16.96 and a beta of 1.02. Okta, Inc. has a twelve month low of $65.98 and a twelve month high of $114.50.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. As a group, analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Okta news, CEO Todd Mckinnon sold 32,516 shares of Okta stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 478,584 shares of company stock valued at $35,958,556 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on OKTA shares. Piper Sandler cut their price objective on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Bank of America cut Okta from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. Mizuho lowered their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group reduced their price target on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, September 24th. Finally, Robert W. Baird lowered their price objective on shares of Okta from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Okta presently has an average rating of “Hold” and an average target price of $99.39.

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.