New York State Common Retirement Fund Reduces Stake in Okta, Inc. (NASDAQ:OKTA)

New York State Common Retirement Fund cut its position in Okta, Inc. (NASDAQ:OKTA) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,362 shares of the company’s stock after selling 79,782 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Okta worth $35,128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OKTA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Okta by 0.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,318 shares of the company’s stock valued at $5,166,000 after purchasing an additional 177 shares during the period. California Public Employees Retirement System boosted its position in shares of Okta by 4.8% in the 4th quarter. California Public Employees Retirement System now owns 275,781 shares of the company’s stock valued at $70,120,000 after purchasing an additional 12,671 shares during the period. RFG Advisory LLC acquired a new stake in shares of Okta in the 4th quarter valued at about $202,000. Prime Capital Investment Advisors LLC boosted its position in shares of Okta by 157.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 74 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Okta by 215.1% in the 4th quarter. CIBC Asset Management Inc now owns 13,682 shares of the company’s stock valued at $3,479,000 after purchasing an additional 9,340 shares during the period. 76.70% of the stock is owned by hedge funds and other institutional investors.

In other Okta news, CEO Todd Mckinnon sold 13,817 shares of the firm’s stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $232.65, for a total transaction of $3,214,525.05. Following the completion of the transaction, the chief executive officer now owns 15,225 shares of the company’s stock, valued at $3,542,096.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher K. Kramer sold 4,874 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $225.65, for a total value of $1,099,818.10. Insiders have sold 60,418 shares of company stock valued at $13,847,219 in the last three months. 9.60% of the stock is currently owned by company insiders.

NASDAQ OKTA opened at $222.12 on Friday. Okta, Inc. has a 1-year low of $175.84 and a 1-year high of $294.00. The stock has a market cap of $29.14 billion, a P/E ratio of -90.66 and a beta of 0.97. The company has a 50 day moving average price of $242.22. The company has a quick ratio of 1.86, a current ratio of 3.76 and a debt-to-equity ratio of 2.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, May 25th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.10. Okta had a negative return on equity of 30.90% and a negative net margin of 35.18%. Equities research analysts anticipate that Okta, Inc. will post -2.88 earnings per share for the current year.

A number of analysts recently issued reports on OKTA shares. Robert W. Baird decreased their target price on Okta from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, March 4th. JPMorgan Chase & Co. increased their price objective on Okta from $235.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, May 27th. Mizuho decreased their price objective on Okta from $305.00 to $255.00 and set a “neutral” rating for the company in a research report on Thursday, March 4th. DA Davidson increased their price objective on Okta from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, March 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Okta in a research report on Thursday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Okta currently has a consensus rating of “Buy” and a consensus price target of $271.35.

About Okta

Okta, Inc provides identity management platform 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; and 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.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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