Brown Advisory Inc. Has $4.20 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Brown Advisory Inc. cut its position in Okta, Inc. (NASDAQ:OKTA) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,440 shares of the company’s stock after selling 447 shares during the period. Brown Advisory Inc.’s holdings in Okta were worth $4,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OKTA. Teacher Retirement System of Texas raised its holdings in Okta by 3.2% in the third quarter. Teacher Retirement System of Texas now owns 12,010 shares of the company’s stock worth $979,000 after purchasing an additional 367 shares during the period. M&T Bank Corp increased its position in shares of Okta by 7.7% during the third quarter. M&T Bank Corp now owns 7,496 shares of the company’s stock worth $611,000 after acquiring an additional 534 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Okta by 6.0% during the third quarter. Principal Financial Group Inc. now owns 12,339 shares of the company’s stock worth $1,006,000 after acquiring an additional 694 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Okta by 1.7% during the third quarter. California Public Employees Retirement System now owns 273,564 shares of the company’s stock worth $22,298,000 after acquiring an additional 4,559 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Okta by 11.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 139,384 shares of the company’s stock worth $11,361,000 after acquiring an additional 13,873 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler increased their price objective on shares of Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $64.00 to $135.00 in a research report on Thursday, February 29th. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of Okta in a research report on Friday, May 10th. Finally, Susquehanna raised their target price on shares of Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $101.84.

Okta Price Performance

Shares of Okta stock opened at $100.87 on Thursday. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The company has a 50-day simple moving average of $99.55 and a two-hundred day simple moving average of $89.18. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of -46.48 and a beta of 0.98.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

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.