Posted by Denise Davis on Jun 19th, 2024
Los Angeles Capital Management LLC boosted its position in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 282.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,658 shares of the company’s stock after acquiring an additional 183,643 shares during the period. Los Angeles Capital Management LLC owned 0.15% of Okta worth $26,015,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Okta during the 4th quarter worth approximately $29,000. Principal Securities Inc. bought a new stake in Okta during the 4th quarter worth approximately $48,000. Tucker Asset Management LLC bought a new stake in Okta during the 3rd quarter worth approximately $65,000. UMB Bank n.a. raised its stake in Okta by 150.5% during the 4th quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after acquiring an additional 450 shares during the period. Finally, Lindbrook Capital LLC raised its stake in Okta by 61.6% during the 4th quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock worth $71,000 after acquiring an additional 298 shares during the period. Institutional investors own 86.64% of the company’s stock.
Insider Activity at Okta
In related news, Director Jacques Frederic Kerrest sold 18,878 shares of Okta stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.
Okta Stock Down 2.5 %
Shares of OKTA stock traded down $2.24 on Wednesday, hitting $87.54. The stock had a trading volume of 1,336,064 shares, compared to its average volume of 2,189,064. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $94.50 and a 200 day moving average price of $92.08. The company has a market cap of $14.73 billion, a PE ratio of -52.42 and a beta of 1.03. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Okta in a report on Monday. BMO Capital Markets cut their price objective on shares of Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and increased their price objective for the company from $64.00 to $135.00 in a report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Finally, Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $102.00 to $122.00 in a report on Thursday, May 30th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.48.
Read Our Latest Report on OKTA
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.
Further Reading
- Five stocks we like better than Okta
- What Is WallStreetBets and What Stocks Are They Targeting?
- Outlook Therapeutics: Analysts Forecast Over 500% Stock Upside
- How to invest in blue chip stocks
- Campbell Soup Co. Targets Fiscal Q4 Stock Recovery
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Zebra Analysts Upgrade Stock, Forecasting Major Reversal
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.
You might be interested in:
Los Angeles Capital Management LLC Makes New Investment in FTI Consulting, Inc.
Los Angeles Capital Management LLC Purchases 183,643 Shares of Okta, Inc.
Los Angeles Capital Management LLC Has $28.76 Million Stake in AppLovin Co.
AMC Entertainment Shares Down 0.6%
Los Angeles Capital Management LLC Has $32.92 Million Stock Holdings in CrowdStrike Holdings, Inc.
Los Angeles Capital Management LLC Acquires 84,983 Shares of Cboe Global Markets, Inc.
