E. Ohman J or Asset Management AB Takes $610,000 Position in Okta, Inc. (NASDAQ:OKTA)

E. Ohman J or Asset Management AB purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,800 shares of the company's stock, valued at approximately $610,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Okta during the 4th quarter worth $1,686,000. Charles Schwab Investment Management Inc. boosted its position in shares of Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Okta by 46.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock worth $854,000 after purchasing an additional 3,429 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Okta by 2,574.9% during the fourth quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock worth $774,000 after purchasing an additional 9,450 shares during the period. Finally, World Equity Group Inc. bought a new stake in Okta in the fourth quarter valued at about $332,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Shares of OKTA stock opened at $105.08 on Friday. The stock has a market cap of $18.40 billion, a P/E ratio of -300.23, a P/E/G ratio of 6.42 and a beta of 0.84. The company has a fifty day moving average price of $108.86 and a two-hundred day moving average price of $98.02. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. Okta's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $132.00 target price on Okta and gave the stock a "market perform" rating in a research report on Wednesday, May 28th. Mizuho reduced their price objective on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, May 28th. Royal Bank of Canada reduced their price target on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, KeyCorp boosted their price target on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Insider Buying and Selling at Okta

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

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.

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.