E. Ohman J or Asset Management AB Takes Position in Okta, Inc. (NASDAQ:OKTA)

E. Ohman J or Asset Management AB acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 5,800 shares of the company's stock, valued at approximately $610,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC boosted its holdings in shares of Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock valued at $352,000 after buying an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after acquiring an additional 136 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after purchasing an additional 157 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of 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 period. Finally, Great Lakes Advisors LLC grew its position in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock worth $557,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OKTA shares. Barclays dropped their target price on Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Westpark Capital reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, May 28th. Citigroup boosted their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, DA Davidson reduced their price target 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. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.59.

Insider Buying and Selling at Okta

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

Okta Price Performance

Shares of NASDAQ OKTA traded down $0.31 during trading on Wednesday, hitting $100.47. The company had a trading volume of 2,019,571 shares, compared to its average volume of 2,999,922. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The business's 50-day moving average is $108.78 and its 200 day moving average is $98.37. The company has a market cap of $17.59 billion, a P/E ratio of -286.87, a PEG ratio of 6.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping 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 company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period last year, the company posted $0.65 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Equities 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.