Asset Management One Co. Ltd. Acquires 9,899 Shares of Okta, Inc. (NASDAQ:OKTA)

Asset Management One Co. Ltd. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,119 shares of the company's stock after buying an additional 9,899 shares during the period. Asset Management One Co. Ltd. owned 0.08% of Okta worth $15,059,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC increased its stake in shares of Okta by 10.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,445 shares of the company's stock valued at $981,000 after buying an additional 1,201 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Okta by 2.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 62,290 shares of the company's stock valued at $4,908,000 after acquiring an additional 1,330 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Okta by 80.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 26,065 shares of the company's stock worth $2,054,000 after purchasing an additional 11,658 shares during the period. GenTrust LLC bought a new stake in Okta during the 4th quarter worth about $311,000. Finally, Proficio Capital Partners LLC acquired a new position in Okta during the 4th quarter valued at about $4,923,000. Institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the transaction, the director now directly owns 2,832 shares of the company's stock, valued at $284,021.28. This represents a 17.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,935 shares of company stock valued at $1,100,347 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

Okta Stock Down 0.1%

Okta stock opened at $98.13 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market capitalization of $17.18 billion, a PE ratio of 155.76, a P/E/G ratio of 4.75 and a beta of 0.84. The company's 50-day moving average is $109.09 and its 200-day moving average is $99.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47.

Okta (NASDAQ:OKTA - Get Free Report) last announced 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. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The business's revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKTA. DA Davidson cut their price objective on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Loop Capital assumed coverage on Okta in a research report on Monday, May 5th. They issued a "buy" rating and a $140.00 price target on the stock. Royal Bank Of Canada dropped their price objective on Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Wells Fargo & Company raised their target price on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 28th. Finally, UBS Group lowered their price target on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

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.

Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta, Inc. (NASDAQ:OKTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.