Charles Schwab Investment Management Inc. Purchases 17,950 Shares of Okta, Inc. (NASDAQ:OKTA)

Charles Schwab Investment Management Inc. lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,069,452 shares of the company’s stock after purchasing an additional 17,950 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Okta were worth $79,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its position in Okta by 122.3% in the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,364 shares during the last quarter. Truist Financial Corp raised its holdings in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares during the period. Atria Wealth Solutions Inc. boosted its position in Okta by 75.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company’s stock worth $1,074,000 after buying an additional 4,932 shares during the period. Finally, River Global Investors LLP grew its holdings in Okta by 69.9% during the 3rd quarter. River Global Investors LLP now owns 22,144 shares of the company’s stock worth $1,646,000 after acquiring an additional 9,114 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,790 shares of the company’s 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 completion of the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Needham & Company LLC assumed coverage on Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 price target on the stock. Canaccord Genuity Group lowered their price objective on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Piper Sandler reduced their target price on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their price target on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One 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. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $98.30.

Okta Price Performance

Shares of NASDAQ OKTA opened at $76.42 on Thursday. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of -90.98, a PEG ratio of 18.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50. The firm’s 50-day simple moving average is $74.82 and its 200 day simple moving average is $85.02.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The company 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, research analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

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.