Mathes Company Inc. Makes New $4.38 Million Investment in Okta, Inc. (NASDAQ:OKTA)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Okta in the fourth quarter worth $234,992,000. Ameriprise Financial Inc. increased its stake in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after acquiring an additional 1,828,630 shares during the period. Ninety One UK Ltd bought a new stake in shares of Okta in the 1st quarter valued at approximately $189,915,000. Alyeska Investment Group L.P. boosted its holdings 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 worth $139,693,000 after acquiring an additional 1,699,176 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider owned 23,640 shares in the company, valued at approximately $2,364,000. The trade was a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director directly owned 2,832 shares of the company's stock, valued at $284,021.28. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,930 shares of company stock valued at $391,511 in the last ninety days. Corporate insiders own 5.68% of the company's stock.

Okta Stock Performance

NASDAQ OKTA traded down $0.87 on Tuesday, hitting $91.10. 3,247,142 shares of the company's stock traded hands, compared to its average volume of 3,120,908. 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 firm has a market capitalization of $15.95 billion, a PE ratio of 144.61, a P/E/G ratio of 4.43 and a beta of 0.82. The firm's 50-day moving average price is $107.71 and its two-hundred day moving average price is $101.11. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $680.14 million. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. As a group, analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKTA. Stifel Nicolaus raised their target price on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. DA Davidson reduced their price objective on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Needham & Company LLC increased their price objective on shares of Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group upped their target price on shares of Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $135.00 price objective (up previously from $110.00) on shares of Okta in a research note on Friday, May 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Okta has an average rating of "Hold" and a consensus target price of $119.44.

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.