Motley Fool Asset Management LLC purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,887 shares of the company's stock, valued at approximately $304,000.
A number of other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Okta by 12.3% during the 4th quarter. Russell Investments Group Ltd. now owns 37,895 shares of the company's stock worth $2,987,000 after acquiring an additional 4,147 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Okta by 56.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 90,895 shares of the company's stock worth $7,163,000 after acquiring an additional 32,790 shares during the period. Townsquare Capital LLC lifted its stake in Okta by 26.1% in the 4th quarter. Townsquare Capital LLC now owns 7,973 shares of the company's stock valued at $628,000 after purchasing an additional 1,652 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Okta in the 4th quarter valued at approximately $915,000. Finally, XTX Topco Ltd bought a new position in shares of Okta during the fourth quarter valued at $327,000. 86.64% of the stock is currently owned by institutional investors.
Okta Trading Up 3.8%
OKTA traded up $3.41 on Friday, reaching $92.02. 2,087,241 shares of the company's stock were exchanged, compared to its average volume of 3,592,908. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 146.07, a PEG ratio of 4.40 and a beta of 0.80. 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 company's 50 day moving average is $96.77 and its 200-day moving average is $102.55. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.
Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. Okta's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. Equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.
Insider Activity at Okta
In related news, insider Eric Robert Kelleher sold 16,018 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. This trade represents a 69.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the transaction, the chief executive officer owned 20,682 shares of the company's stock, valued at $1,970,994.60. This trade represents a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock valued at $8,382,790 in the last 90 days. Corporate insiders own 5.68% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on OKTA. Arete started coverage on shares of Okta in a research note on Monday, July 7th. They issued a "sell" rating and a $83.00 price objective on the stock. Royal Bank Of Canada reduced their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Evercore ISI upped their target price on shares of Okta from $122.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Needham & Company LLC boosted their price target on shares of Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $118.61.
Read Our Latest Report on Okta
About Okta
(
Free Report)
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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