Dimensional Fund Advisors LP Has $85.80 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Dimensional Fund Advisors LP cut its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088,593 shares of the company’s stock after selling 5,920 shares during the period. Dimensional Fund Advisors LP’s holdings in Okta were worth $85,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Formula Growth Ltd. raised its stake in shares of Okta by 9.4% in the fourth quarter. Formula Growth Ltd. now owns 70,000 shares of the company’s stock worth $5,516,000 after purchasing an additional 6,000 shares during the last quarter. Forum Financial Management LP purchased a new stake in Okta in the 4th quarter valued at $333,000. GeoWealth Management LLC lifted its stake in Okta by 67.9% during the 4th quarter. GeoWealth Management LLC now owns 1,011 shares of the company’s stock valued at $80,000 after acquiring an additional 409 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Okta by 358.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 65,500 shares of the company’s stock worth $5,161,000 after acquiring an additional 51,200 shares during the last quarter. Finally, Zacks Investment Management raised its holdings in shares of Okta by 0.7% in the fourth quarter. Zacks Investment Management now owns 39,340 shares of the company’s stock valued at $3,100,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

OKTA opened at $112.54 on Wednesday. The stock has a market capitalization of $19.54 billion, a P/E ratio of -321.54, a PEG ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The stock has a 50-day moving average price of $102.92 and a 200-day moving average price of $89.93.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 65,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $94.76, for a total value of $473,800.00. Following the transaction, the chief financial officer now directly owns 97,533 shares in the company, valued at $9,242,227.08. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,192 shares of company stock valued at $23,426,056 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 price target on the stock. Robert W. Baird raised their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and an average price target of $116.12.

Okta 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.