Banque Cantonale Vaudoise Purchases New Position in Okta, Inc. (NASDAQ:OKTA)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Okta, Inc. with 4,375 shares valued at approximately $461,000 as revealed in their recent 13F filing with the SEC.
• Several institutional investors have raised their stakes in Okta, with total institutional ownership at 86.64%.
• Wall Street analysts have mixed ratings for Okta, with a consensus target price of $118.61 and analysts' ratings ranging from sell to buy.

Banque Cantonale Vaudoise acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,375 shares of the company's stock, valued at approximately $461,000.

Several other hedge funds have also recently bought and sold shares of OKTA. Wealth Enhancement Advisory Services LLC increased its stake in Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after buying an additional 4,171 shares during the period. Trek Financial LLC acquired a new position in shares of Okta in the 1st quarter worth approximately $426,000. Merit Financial Group LLC acquired a new position in shares of Okta in the 1st quarter worth approximately $823,000. Stephens Investment Management Group LLC grew its stake in shares of Okta by 10.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after purchasing an additional 46,818 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its position in shares of Okta by 165.7% in the first quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock worth $742,000 after acquiring an additional 4,395 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKTA. Wells Fargo & Company lifted their target price on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 28th. Mizuho decreased their price target on shares of Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. BTIG Research restated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. 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 report on Wednesday, May 28th. Finally, Guggenheim reduced their target price on shares of Okta from $140.00 to $138.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, Okta has a consensus rating of "Hold" and a consensus price target of $118.61.

Okta Price Performance

Shares of OKTA traded up $2.59 during trading hours on Monday, hitting $97.72. The stock had a trading volume of 1,606,871 shares, compared to its average volume of 3,577,817. The company's fifty day moving average is $99.73 and its two-hundred day moving average is $102.49. 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, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 155.11, a P/E/G ratio of 4.59 and a beta of 0.80.

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 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 period in the prior year, the company posted $0.65 EPS. The company's revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 31,592 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the transaction, the chief executive officer owned 20,682 shares in the company, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,594 shares of company stock worth $8,382,790. Insiders own 5.68% of the company's stock.

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.