Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 9.71MM shares of Okta Inc (OKTA). This represents 6.4% of the company.
In their previous filing dated February 3, 2022 they reported 12.33MM shares and 8.30% of the company, a decrease in shares of 21.25% and a decrease in total ownership of 1.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 4.65% Upside
As of February 7, 2023, the average one-year price target for Okta is $79.89. The forecasts range from a low of $45.45 to a high of $131.25. The average price target represents an increase of 4.65% from its latest reported closing price of $76.34.
The projected annual revenue for Okta is $1,874MM, an increase of 8.27%. The projected annual EPS is $-0.29.
Fund Sentiment
There are 1088 funds or institutions reporting positions in Okta. This is a decrease of 58 owner(s) or 5.06%.
Average portfolio weight of all funds dedicated to US:OKTA is 0.3703%, a decrease of 9.7801%. Total shares owned by institutions decreased in the last three months by 5.57% to 130,287K shares.
What are large shareholders doing?
PRNHX - T. Rowe Price New Horizons Fund holds 8,629,085 shares representing 5.39% ownership of the company. In it's prior filing, the firm reported owning 7,718,021 shares, representing an increase of 10.56%. The firm decreased its portfolio allocation in OKTA by 10.24% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,517,452 shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 4,444,018 shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in OKTA by 33.34% over the last quarter.
Wellington Management Group Llp holds 4,101,368 shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,139,538 shares, representing a decrease of 0.93%. The firm decreased its portfolio allocation in OKTA by 34.08% over the last quarter.
First Trust Advisors holds 3,774,371 shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 3,507,050 shares, representing an increase of 7.08%. The firm decreased its portfolio allocation in OKTA by 29.02% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,472,948 shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 3,470,058 shares, representing an increase of 0.08%. The firm decreased its portfolio allocation in OKTA by 34.17% over the last quarter.
Okta Background Information
(This description is provided by the company.)
Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 10,000 organizations, including JetBlue, Nordstrom, Siemens, Slack, T-Mobile, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
