Assenagon Asset Management S.A. Grows Position in Okta, Inc. (NASDAQ:OKTA)

Assenagon Asset Management S.A. raised its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 110.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,948 shares of the company's stock after buying an additional 65,997 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Okta worth $13,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Empowered Funds LLC raised its position in Okta by 32.0% during the fourth quarter. Empowered Funds LLC now owns 7,550 shares of the company's stock valued at $595,000 after purchasing an additional 1,832 shares in the last quarter. Stephens Inc. AR increased its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Okta during the 4th quarter valued at about $829,000. Allspring Global Investments Holdings LLC lifted its position in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock worth $43,721,000 after buying an additional 322,201 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Okta by 1.4% in the fourth quarter. Congress Asset Management Co. now owns 79,531 shares of the company's stock worth $6,267,000 after buying an additional 1,070 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

OKTA has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Loop Capital assumed coverage on shares of Okta in a research note on Monday, May 5th. They issued a "buy" rating and a $140.00 price target for the company. Canaccord Genuity Group raised their price target on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Robert W. Baird lifted their target price on shares of Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley dropped their price target on shares of Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, Okta has an average rating of "Moderate Buy" and an average target price of $121.59.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their position. The disclosure for this sale can be found here. 5.68% of the stock is owned by corporate insiders.

Okta Stock Performance

OKTA traded down $0.61 during midday trading on Tuesday, hitting $98.67. 2,461,880 shares of the company traded hands, compared to its average volume of 3,025,635. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $17.27 billion, a PE ratio of 156.62, a price-to-earnings-growth ratio of 4.80 and a beta of 0.84. The company's 50-day moving average is $109.35 and its 200 day moving average is $99.15. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57.

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

Okta Company 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.