GSA Capital Partners LLP Has $861,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Key Points

• GSA Capital Partners LLP has significantly increased its holdings in Okta, Inc. by 101.7% in the first quarter, now owning 8,180 shares valued at approximately $861,000.
• Okta reported a quarterly earnings per share (EPS) of $0.86, exceeding analysts' expectations, along with a revenue of $688 million, reflecting an 11.5% increase year-over-year.
• Institutional investors control 86.64% of Okta's stock, with a consensus rating of "Hold" and an average price target set at $118.61 among analysts.

GSA Capital Partners LLP increased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 101.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,180 shares of the company's stock after buying an additional 4,125 shares during the quarter. GSA Capital Partners LLP's holdings in Okta were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. TD Private Client Wealth LLC raised its position in Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP raised its position in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after acquiring an additional 92 shares in the last quarter. GPS Wealth Strategies Group LLC raised its position in Okta by 7.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after acquiring an additional 100 shares in the last quarter. First Horizon Advisors Inc. raised its position in Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after acquiring an additional 108 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Okta by 3.7% during the first quarter. Stephens Inc. AR now owns 3,417 shares of the company's stock valued at $360,000 after acquiring an additional 121 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Price Performance

Shares of OKTA traded up $2.59 on Monday, hitting $97.72. The company's stock had a trading volume of 1,606,871 shares, compared to its average volume of 3,577,817. The company has a market capitalization of $17.11 billion, a PE ratio of 155.11, a PEG ratio of 4.59 and a beta of 0.80. 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 fifty-two week low of $70.56 and a fifty-two week high of $127.57. The company has a 50 day moving average price of $99.73 and a 200 day moving average price of $102.49.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the prior year, the business earned $0.65 EPS. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OKTA has been the topic of several research analyst reports. BMO Capital Markets set a $132.00 price objective on Okta and gave the company a "market perform" rating in a report on Wednesday, May 28th. Royal Bank Of Canada dropped their price target on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Stephens reissued an "equal weight" rating and issued a $127.00 price target on shares of Okta in a research note on Tuesday, May 27th. The Goldman Sachs Group lifted their price target 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. Finally, Roth Capital reissued a "buy" rating and issued a $119.00 price target on shares of Okta in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $118.61.

Insider Activity

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the transaction, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. This represents 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. 5.68% of the stock is owned by company insiders.

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.