Eagle Asset Management Inc. Has $1.60 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Eagle Asset Management Inc. boosted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,784 shares of the company’s stock after acquiring an additional 3,685 shares during the period. Eagle Asset Management Inc.’s holdings in Okta were worth $1,595,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OKTA. Marshall Wace LLP increased its position in shares of Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the period. Eminence Capital LP lifted its position in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in 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 buying an additional 277,084 shares in the last quarter. Truist Financial Corp increased its holdings in 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 buying an additional 200,770 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now owns 8,495 shares in the company, valued at $638,908.95. This represents a 95.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was 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 $1,581,937.50. The trade was a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by company insiders.

Okta Stock Down 0.1 %

NASDAQ:OKTA opened at $76.50 on Tuesday. The stock’s fifty day simple moving average is $74.77 and its 200-day simple moving average is $85.17. The firm has a market capitalization of $12.99 billion, a P/E ratio of -91.07, a P/E/G ratio of 18.75 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12-month low of $66.69 and a 12-month high of $114.50.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Citigroup dropped their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. UBS Group decreased their price target on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Canaccord Genuity Group dropped their price objective on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 18th. Finally, Robert W. Baird reduced their target price on shares of Okta from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.30.

About Okta

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.