Okta, Inc. (NASDAQ:OKTA) Stock Holdings Increased by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,929 shares of the company’s stock after purchasing an additional 197 shares during the period. Angeles Investment Advisors LLC’s holdings in Okta were worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OKTA. Plato Investment Management Ltd raised its position in shares of Okta by 82.4% during the 2nd quarter. Plato Investment Management Ltd now owns 11,021 shares of the company’s stock worth $1,032,000 after buying an additional 4,979 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Okta during the second quarter valued at approximately $2,271,000. Envestnet Asset Management Inc. raised its holdings in Okta by 52.1% during the second quarter. Envestnet Asset Management Inc. now owns 325,302 shares of the company’s stock worth $30,452,000 after purchasing an additional 111,415 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Okta by 191.9% in the second quarter. Thoroughbred Financial Services LLC now owns 30,302 shares of the company’s stock worth $2,836,000 after purchasing an additional 19,920 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Okta by 1,708.3% during the 2nd quarter. Federated Hermes Inc. now owns 94,049 shares of the company’s stock valued at $8,804,000 after purchasing an additional 88,848 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on OKTA shares. Canaccord Genuity Group cut their price objective on Okta from $95.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Citigroup cut their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus lowered their price objective on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research note on Thursday, August 29th. Finally, Scotiabank reduced their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a 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 given a buy rating to the stock. According to data from MarketBeat, Okta has a consensus rating of “Hold” and an average price target of $105.14.

Okta Trading Up 0.8 %

Shares of NASDAQ OKTA opened at $74.06 on Monday. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of -44.35, a PEG ratio of 40.62 and a beta of 1.01. The business has a 50 day simple moving average of $89.41 and a 200 day simple moving average of $94.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

Insiders Place Their Bets

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

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.