Angeles Investment Advisors LLC Cuts Stock Position in Okta, Inc. (NASDAQ:OKTA)

Angeles Investment Advisors LLC lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,384 shares of the company’s stock after selling 545 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Okta were worth $326,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. RPG Investment Advisory LLC raised its position in Okta by 7.4% in the third quarter. RPG Investment Advisory LLC now owns 83,127 shares of the company’s stock worth $6,180,000 after acquiring an additional 5,722 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Okta by 71.7% in the third quarter. Venturi Wealth Management LLC now owns 1,116 shares of the company’s stock valued at $83,000 after buying an additional 466 shares in the last quarter. River Global Investors LLP increased its position in shares of Okta by 69.9% in the third quarter. River Global Investors LLP now owns 22,144 shares of the company’s stock valued at $1,646,000 after buying an additional 9,114 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Okta by 10.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 105,750 shares of the company’s stock valued at $7,861,000 after buying an additional 10,000 shares in the last quarter. Finally, Advisors Management Group Inc. ADV increased its position in shares of Okta by 32.3% in the third quarter. Advisors Management Group Inc. ADV now owns 11,758 shares of the company’s stock valued at $874,000 after buying an additional 2,871 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OKTA. Needham & Company LLC began coverage on Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 price target for the company. Citigroup dropped their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $85.00 in a research report on Tuesday. Jefferies Financial Group decreased their price objective on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Okta from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $98.90.

Okta Trading Up 1.6 %

Shares of NASDAQ OKTA traded up $1.27 during midday trading on Wednesday, hitting $79.49. The stock had a trading volume of 98,043 shares, compared to its average volume of 1,909,871. Okta, Inc. has a 1-year low of $66.69 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a fifty day moving average price of $74.39 and a 200 day moving average price of $86.48.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, equities research analysts predict that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Okta news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by company insiders.

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.