Public Employees Retirement Association of Colorado Has $13.65 Million Position in Okta, Inc. (NASDAQ:OKTA) (2024)

Public Employees Retirement Association of Colorado boosted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 499.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,828 shares of the company's stock after buying an additional 125,671 shares during the period. Public Employees Retirement Association of Colorado owned 0.09% of Okta worth $13,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of OKTA. NBC Securities Inc. bought a new position in shares of Okta during the third quarter valued at approximately $27,000. GAMMA Investing LLC bought a new position in shares of Okta during the fourth quarter valued at approximately $29,000. Principal Securities Inc. bought a new position in shares of Okta during the fourth quarter valued at approximately $48,000. Quintet Private Bank Europe S.A. bought a new position in shares of Okta during the third quarter valued at approximately $64,000. Finally, Tucker Asset Management LLC bought a new position in shares of Okta during the third quarter valued at approximately $65,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKTA has been the subject of several analyst reports. Truist Financial reissued a "hold" rating and set a $105.00 price target (up previously from $85.00) on shares of Okta in a research report on Thursday, February 29th. Needham & Company LLC reissued a "buy" rating and set a $130.00 price target on shares of Okta in a research report on Thursday, May 30th. Mizuho raised their price target on shares of Okta from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Friday, May 17th. Robert W. Baird raised their price target on shares of Okta from $90.00 to $108.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Finally, Oppenheimer lifted their target price on shares of Okta from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $104.48.

Read Our Latest Analysis on OKTA

Okta Price Performance

Shares of Okta stock traded down $0.27 during trading hours on Friday, reaching $87.42. The company's stock had a trading volume of 1,016,227 shares, compared to its average volume of 1,913,508. The firm has a 50 day moving average price of $96.62 and a 200-day moving average price of $90.83. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $14.63 billion, a P/E ratio of -52.25 and a beta of 1.03.

Insider Transactions at Okta

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

About Okta

(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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