Glynn Capital Management LLC Has $27.12 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Glynn Capital Management LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 299,578 shares of the company’s stock after selling 6,549 shares during the quarter. Okta comprises 5.1% of Glynn Capital Management LLC’s portfolio, making the stock its 8th largest holding. Glynn Capital Management LLC’s holdings in Okta were worth $27,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in Okta by 3.0% during the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock worth $77,005,000 after buying an additional 27,577 shares during the period. RPG Investment Advisory LLC lifted its position in Okta by 57.2% in the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after acquiring an additional 28,119 shares in the last quarter. Pearl River Capital LLC boosted its stake in Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock worth $3,422,000 after purchasing an additional 36,336 shares during the period. Assenagon Asset Management S.A. increased its holdings in Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after purchasing an additional 169,830 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Okta in the 3rd quarter valued at about $923,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OKTA shares. Westpark Capital raised Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a research note on Thursday, February 29th. Canaccord Genuity Group boosted their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Evercore ISI increased their target price on shares of Okta from $70.00 to $102.00 and gave the stock an “in-line” rating in a report on Thursday, February 29th. Finally, BMO Capital Markets increased their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $100.39.

Okta Stock Performance

NASDAQ OKTA traded up $0.30 on Wednesday, reaching $93.28. The stock had a trading volume of 417,650 shares, compared to its average volume of 1,886,695. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $15.62 billion, a P/E ratio of -42.66 and a beta of 1.00. The firm has a fifty day moving average of $99.86 and a two-hundred day moving average of $86.44. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. On average, equities research analysts anticipate that Okta, Inc. will post -1.51 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Okta news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the sale, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,779 shares of company stock worth $1,205,990 in the last quarter. Corporate insiders own 7.36% of the company’s stock.

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.