Bessemer Group Inc. Sells 91,629 Shares of Okta, Inc. (NASDAQ:OKTA)

Bessemer Group Inc. trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 64.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,016 shares of the company's stock after selling 91,629 shares during the period. Bessemer Group Inc.'s holdings in Okta were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lecap Asset Management Ltd. boosted its holdings in shares of Okta by 11.4% in the first quarter. Lecap Asset Management Ltd. now owns 25,920 shares of the company's stock worth $2,727,000 after acquiring an additional 2,652 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Okta by 7.4% in the first quarter. Asset Management One Co. Ltd. now owns 143,119 shares of the company's stock worth $15,059,000 after acquiring an additional 9,899 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Okta by 12.7% in the first quarter. Oppenheimer & Co. Inc. now owns 5,558 shares of the company's stock worth $585,000 after acquiring an additional 625 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Okta by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,025 shares of the company's stock worth $3,264,000 after acquiring an additional 970 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Stock Up 0.3%

OKTA opened at $98.43 on Friday. The company has a market cap of $17.23 billion, a P/E ratio of 156.24, a P/E/G ratio of 4.75 and a beta of 0.84. The business's 50-day moving average price is $109.10 and its 200-day moving average price is $99.89. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly 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 return on equity of 2.79% and a net margin of 4.85%. 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 previous year, the business earned $0.65 EPS. Okta's revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho cut their price target on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Canaccord Genuity Group lifted their price objective on Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Stephens reissued an "equal weight" rating and set a $127.00 price objective on shares of Okta in a research note on Tuesday, May 27th. Guggenheim dropped their price objective on Okta from $140.00 to $138.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus lifted their price objective on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now directly owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director now directly owns 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,935 shares of company stock worth $1,100,347 in the last 90 days. Company 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.

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