Vanguard Group Inc. Increases Position in Okta, Inc. (NASDAQ:OKTA) (2024)

Vanguard Group Inc. lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,719,619 shares of the company's stock after acquiring an additional 438,496 shares during the period. Vanguard Group Inc. owned approximately 9.39% of Okta worth $1,423,097,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sands Capital Management LLC boosted its holdings in shares of Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company's stock worth $756,687,000 after acquiring an additional 2,486,456 shares during the period. First Trust Advisors LP boosted its holdings in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company's stock worth $369,854,000 after acquiring an additional 897,216 shares during the period. Cerity Partners LLC boosted its holdings in shares of Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock worth $287,181,000 after acquiring an additional 3,121,809 shares during the period. Eminence Capital LP boosted its holdings in shares of Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company's stock worth $172,969,000 after acquiring an additional 310,918 shares during the period. Finally, Norges Bank purchased a new stake in shares of Okta in the fourth quarter worth $150,794,000. 86.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho increased their price objective on Okta from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 17th. Wedbush reiterated an "outperform" rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. BMO Capital Markets lowered their price objective on Okta from $110.00 to $100.00 and set a "market perform" rating on the stock in a research report on Monday, June 3rd. Evercore ISI upgraded Okta from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $130.00 price target on shares of Okta in a report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Okta has a consensus rating of "Hold" and an average price target of $104.48.

Check Out Our Latest Research Report on Okta

Okta Stock Down 1.2 %

OKTA stock traded down $1.02 during midday trading on Thursday, hitting $86.52. The company's stock had a trading volume of 1,601,431 shares, compared to its average volume of 1,889,368. The company has a market cap of $14.56 billion, a PE ratio of -51.81 and a beta of 1.03. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $93.98 and its 200-day moving average is $92.01.

Okta Profile

(Free Report)

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.

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