Okta, Inc. (NASDAQ:OKTA) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its position in Okta, Inc. (NASDAQ:OKTA) by 478.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,215 shares of the company’s stock after buying an additional 22,507 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Okta were worth $2,023,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OKTA. Future Financial Wealth Managment LLC acquired a new stake in Okta in the 3rd quarter valued at $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Okta in the second quarter valued at approximately $47,000. Finally, nVerses Capital LLC acquired a new stake in shares of Okta in the second quarter worth approximately $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock worth $35,701,361 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

Okta stock opened at $76.50 on Tuesday. The stock has a 50 day moving average of $74.77 and a 200-day moving average of $85.17. The stock has a market cap of $12.99 billion, a P/E ratio of -91.07, a price-to-earnings-growth ratio of 18.75 and a beta of 1.02. Okta, Inc. has a 52 week low of $66.69 and a 52 week high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its quarterly 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 business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. On average, analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKTA shares. Morgan Stanley decreased their price target on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Piper Sandler reduced their price objective on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Mizuho cut their price objective on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Canaccord Genuity Group decreased their target price on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, Susquehanna lowered their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $98.30.

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.