ASR Vermogensbeheer N.V. Purchases New Position in Okta, Inc. (NASDAQ:OKTA)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Okta, Inc., purchasing 16,393 shares valued at approximately $1.73 million in the first quarter.
• Several hedge funds increased their positions in Okta, resulting in institutional investors now owning 86.64% of the stock.
• Okta's stock has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $118.61.

ASR Vermogensbeheer N.V. bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,393 shares of the company's stock, valued at approximately $1,725,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its position in Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Okta in the first quarter valued at approximately $27,000. Harbour Investments Inc. grew its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after acquiring an additional 157 shares in the last quarter. Rossby Financial LCC acquired a new stake in Okta in the first quarter valued at approximately $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Okta in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Down 2.2%

OKTA traded down $2.03 during trading on Friday, reaching $91.55. The company had a trading volume of 2,430,222 shares, compared to its average volume of 3,397,524. The firm's 50-day simple moving average is $97.99 and its 200 day simple moving average is $102.74. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 145.32, a PEG ratio of 4.43 and a beta of 0.80. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. Okta's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. Equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock worth $8,382,790 in the last three months. Insiders own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 28th. Evercore ISI raised their price target on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. UBS Group decreased their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus raised their price target on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat, Okta has a consensus rating of "Hold" and a consensus target price of $118.61.

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.