Ninety One SA PTY Ltd Purchases Shares of 31,163 Okta, Inc. (NASDAQ:OKTA)

Ninety One SA PTY Ltd bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 31,163 shares of the company's stock, valued at approximately $3,275,000.

Several other institutional investors have also made changes to their positions in OKTA. Wolff Wiese Magana LLC lifted its holdings in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. Wayfinding Financial LLC bought a new position in Okta during the 1st quarter valued at about $27,000. Rossby Financial LCC bought a new position in Okta during the 1st quarter valued at about $31,000. TD Private Client Wealth LLC lifted its holdings in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Okta during the 4th quarter valued at about $40,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 3.0%

Shares of NASDAQ:OKTA traded down $2.85 during trading on Friday, hitting $91.56. 3,065,153 shares of the company's stock were exchanged, compared to its average volume of 3,114,471. The firm has a market cap of $16.03 billion, a P/E ratio of 145.34, a PEG ratio of 4.57 and a beta of 0.82. The firm has a 50-day moving average price of $107.71 and a two-hundred day moving average price of $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, 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 data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million during 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 business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter 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 Buying and Selling

In related news, insider Larissa Schwartz sold 2,244 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 2,832 shares of the company's stock, valued at approximately $284,021.28. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,930 shares of company stock valued at $391,511. Corporate insiders own 5.68% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. Scotiabank lifted their price target on shares of Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a report on Wednesday, May 28th. UBS Group cut their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group lifted their price target on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Westpark Capital reissued a "buy" rating and set a $140.00 price target on shares of Okta in a report on Wednesday, May 28th. Finally, Roth Capital restated a "buy" rating and issued a $119.00 price objective on shares of Okta in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.