Mathes Company Inc. Buys New Shares in Okta, Inc. (NASDAQ:OKTA)

Mathes Company Inc. purchased a new position in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,640 shares of the company's stock, valued at approximately $4,381,000. Okta makes up 1.8% of Mathes Company Inc.'s investment portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Okta by 52.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after purchasing an additional 4,171 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Okta during the first quarter worth approximately $823,000. Trek Financial LLC acquired a new stake in shares of Okta during the first quarter worth approximately $426,000. Greenwood Capital Associates LLC increased its holdings in shares of Okta by 165.7% during the first quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock worth $742,000 after buying an additional 4,395 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in shares of Okta by 433.3% during the first quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company's stock worth $420,000 after buying an additional 3,250 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKTA. JMP Securities reaffirmed a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the stock a "market perform" rating in a report on Wednesday, May 28th. Jefferies Financial Group reissued a "hold" rating and issued a $135.00 price target (up previously from $110.00) on shares of Okta in a report on Friday, May 23rd. Evercore ISI raised their price target on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, Okta has a consensus rating of "Hold" and an average target price of $119.44.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director directly owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction on Friday, June 20th. The shares were 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 $2,364,000. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,930 shares of company stock worth $391,511 over the last quarter. Company insiders own 5.68% of the company's stock.

Okta Trading Down 3.0%

OKTA opened at $91.56 on Friday. The stock has a market capitalization of $16.03 billion, a P/E ratio of 145.34, a P/E/G ratio of 4.57 and a beta of 0.82. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The firm's fifty day simple moving average is $107.71 and its 200 day simple moving average is $100.86. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

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

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.

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