Public Employees Retirement System of Ohio Has $2.14 Million Stake in Okta Inc (NASDAQ:OKTA)

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.

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Okta Profile

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.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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