Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Okta, Inc. by 3.7% during Q1, owning 226,272 shares worth approximately $23.81 million by the end of the reporting period.
• Other institutional investors, including Vanguard Group and Wealth Enhancement Advisory Services, also increased their positions, reflecting strong institutional interest in the company, with 86.64% of the stock owned by such investors.
• Okta reported a Q1 EPS of $0.86, surpassing analysts' expectations of $0.77, along with revenue growth of 11.5% year-over-year, reinforcing its financial performance amidst varying analyst ratings.

Deutsche Bank AG raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,272 shares of the company's stock after purchasing an additional 8,160 shares during the quarter. Deutsche Bank AG owned 0.13% of Okta worth $23,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Okta by 3.4% in the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock valued at $1,872,167,000 after acquiring an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after buying an additional 2,830,582 shares during the period. Marshall Wace LLP increased its position in Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after purchasing an additional 938,509 shares during the period. Point72 Asset Management L.P. increased its position in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the period. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their price objective on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company lifted their price objective on shares of Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the company a "market perform" rating in a research note on Wednesday, May 28th. Finally, Loop Capital began coverage on shares of Okta in a research note on Monday, May 5th. They set a "buy" rating and a $140.00 price objective for the company. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of "Hold" and an average price target of $118.61.

Insider Activity

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 value of $1,470,612.58. Following the transaction, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at $12,567,360. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,594 shares of company stock worth $8,382,790. Insiders own 5.68% of the company's stock.

Okta Price Performance

Shares of Okta stock traded up $3.41 during trading hours on Friday, reaching $92.02. 2,103,909 shares of the company's stock were exchanged, compared to its average volume of 3,576,595. The business has a fifty day moving average of $96.51 and a two-hundred day moving average of $102.59. 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 company has a market capitalization of $16.11 billion, a P/E ratio of 146.07, a price-to-earnings-growth ratio of 4.45 and a beta of 0.80. Okta, Inc. has a 1 year low of $70.56 and a 1 year 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 for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.