KBC Group NV Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

KBC Group NV boosted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 128.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,601 shares of the company's stock after buying an additional 41,321 shares during the period. KBC Group NV's holdings in Okta were worth $7,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Okta during the fourth quarter worth about $234,992,000. Ameriprise Financial Inc. lifted 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 worth $150,845,000 after acquiring an additional 1,828,630 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after purchasing an additional 1,699,176 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Okta by 236.8% in the fourth 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, Sachem Head Capital Management LP acquired a new position in shares of Okta in the fourth quarter valued at approximately $105,592,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Truist Financial lifted their price objective on shares of Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Loop Capital started coverage on shares of Okta in a research note on Monday, May 5th. They issued a "buy" rating and a $140.00 target price for the company. UBS Group dropped their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. DA Davidson cut their price target on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Evercore ISI raised their price objective on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $121.59.

Okta Price Performance

Shares of OKTA stock traded down $0.41 during trading hours on Wednesday, hitting $98.14. The company's stock had a trading volume of 2,249,126 shares, compared to its average volume of 3,072,599. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $109.33 and a 200-day moving average of $100.22. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 155.78, a P/E/G ratio of 4.84 and a beta of 0.82.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 2.79% and a net margin of 4.85%. Okta's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the sale, the insider owned 23,640 shares in the company, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. This trade represents 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 valued at $1,100,347 over the last quarter. Insiders own 5.68% of the company's stock.

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.