Public Employees Retirement System of Ohio lowered its stake in shares of Okta Inc (NASDAQ:OKTA) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,569 shares of the company’s stock after selling 13,422 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Okta were worth $2,142,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of OKTA. Kovack Advisors Inc. raised its holdings in Okta by 2.5% during the 4th quarter. Kovack Advisors Inc. now owns 5,107 shares of the company’s stock worth $326,000 after buying an additional 126 shares during the period. First Mercantile Trust Co. grew its stake in shares of Okta by 1.8% during the 4th quarter. First Mercantile Trust Co. now owns 11,300 shares of the company’s stock worth $721,000 after acquiring an additional 200 shares in the last quarter. Ausdal Financial Partners Inc. grew its stake in shares of Okta by 4.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 4,904 shares of the company’s stock worth $313,000 after acquiring an additional 201 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Okta by 5.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,640 shares of the company’s stock worth $296,000 after acquiring an additional 240 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of Okta by 4.7% during the 4th quarter. Diversified Trust Co now owns 9,015 shares of the company’s stock worth $575,000 after acquiring an additional 405 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $76.89, for a total value of $1,537,800.00. Following the sale, the chief financial officer now directly owns 20,000 shares in the company, valued at $1,537,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jonathan T. Runyan sold 964 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $80.93, for a total value of $78,016.52. Following the completion of the sale, the general counsel now owns 6,380 shares in the company, valued at $516,333.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 743,447 shares of company stock worth $60,334,079. Company insiders own 20.59% of the company’s stock.
Okta stock traded down $0.66 during midday trading on Wednesday, reaching $93.56. The company’s stock had a trading volume of 5,781 shares, compared to its average volume of 2,107,041. Okta Inc has a 52 week low of $40.24 and a 52 week high of $97.24. The stock has a market cap of $10.44 billion, a PE ratio of -91.10 and a beta of 1.16.
Okta (NASDAQ:OKTA) last released its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. Research analysts forecast that Okta Inc will post -1.38 earnings per share for the current year.
Several equities analysts have recently weighed in on OKTA shares. DA Davidson started coverage on shares of Okta in a research note on Tuesday, December 18th. They set a “neutral” rating and a $62.00 price target for the company. Piper Jaffray Companies started coverage on shares of Okta in a research note on Friday, January 11th. They set an “overweight” rating and a $80.00 price target for the company. Morgan Stanley started coverage on shares of Okta in a research note on Monday, February 4th. They issued an “equal weight” rating and a $85.00 target price for the company. Zacks Investment Research cut shares of Okta from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Finally, SunTrust Banks cut shares of Okta from a “buy” rating to a “hold” rating and raised their target price for the company from $74.00 to $90.00 in a research note on Monday, March 4th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Okta presently has a consensus rating of “Buy” and a consensus price target of $82.11.
COPYRIGHT VIOLATION WARNING: “Public Employees Retirement System of Ohio Has $2.14 Million Stake in Okta Inc (NASDAQ:OKTA)” was reported by XNewsPress and is the property of of XNewsPress. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://xnewspress.com/news/2019/04/17/public-employees-retirement-system-of-ohio-sells-13422-shares-of-okta-inc-okta.html.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
Featured Story: How much money do you need to begin day trading?
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.