Assenagon Asset Management S.A. Buys 65,997 Shares of Okta, Inc. (NASDAQ:OKTA)

Assenagon Asset Management S.A. increased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 110.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor 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 0.07% of Okta worth $13,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Frank Rimerman Advisors LLC raised its position in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after buying an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after buying an additional 136 shares in the last quarter. Stephens Inc. AR increased its stake in Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after acquiring an additional 157 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after acquiring an additional 171 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock valued at $557,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Evercore ISI increased their target price on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Citigroup increased their target price on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Stephens reissued an "equal weight" rating and issued a $127.00 target price on shares of Okta in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a 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 target price of $121.59.

Okta Stock Down 2.7%

OKTA traded down $2.70 on Friday, hitting $97.48. The company had a trading volume of 2,236,031 shares, compared to its average volume of 3,016,183. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The stock has a fifty day simple moving average of $109.25 and a 200-day simple moving average of $98.69. The firm has a market capitalization of $17.07 billion, a P/E ratio of -278.51, a P/E/G ratio of 6.42 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same period last year, the business earned $0.65 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares of the company's stock, valued at $1,117,935. This trade represents a 37.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $2,524,241.25. This trade represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,452 shares of company stock worth $2,697,360. Insiders own 5.68% of the company's stock.

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.