Lecap Asset Management Ltd. Grows Stake in Okta, Inc. (NASDAQ:OKTA)

Lecap Asset Management Ltd. boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,920 shares of the company's stock after acquiring an additional 2,652 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Okta were worth $2,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKTA. GPS Wealth Strategies Group LLC increased its position in shares of Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after purchasing an additional 100 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after buying an additional 105 shares during the period. The Manufacturers Life Insurance Company increased its position in Okta by 1.8% during 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 during the last quarter. Wolff Wiese Magana LLC increased its position in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after acquiring an additional 154 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake 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. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKTA. DA Davidson dropped their price target on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. UBS Group decreased their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Evercore ISI raised their price target on Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Oppenheimer upped their price objective on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a research 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $121.59.

Okta Trading Down 0.1%

Okta stock opened at $98.53 on Wednesday. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The stock has a market cap of $17.25 billion, a PE ratio of 156.40, a price-to-earnings-growth ratio of 4.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50-day moving average of $109.12 and a two-hundred day moving average of $99.69.

Okta (NASDAQ:OKTA - Get Free Report) last released its 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. Okta had a net margin of 4.85% and a return on equity of 2.79%. 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 business earned $0.65 EPS. Okta's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 1,105 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $98.50, for a total value of $108,842.50. Following the transaction, the insider now owns 25,884 shares in the company, valued at approximately $2,549,574. This represents a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the company's stock in a transaction on 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 sale, the director now directly owns 2,832 shares in the company, valued at $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 sold 10,935 shares of company stock worth $1,100,347 in the last 90 days. Insiders own 5.68% of the company's stock.

About Okta

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.

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