Penserra Capital Management LLC Acquires 111,580 Shares of Okta, Inc. (NASDAQ:OKTA)

Penserra Capital Management LLC grew its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902,585 shares of the company's stock after purchasing an additional 111,580 shares during the period. Okta makes up approximately 1.7% of Penserra Capital Management LLC's holdings, making the stock its 8th largest holding. Penserra Capital Management LLC owned approximately 0.52% of Okta worth $94,969,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Schulz Wealth LTD. acquired a new position in Okta during the first quarter valued at approximately $240,000. Wayfinding Financial LLC purchased a new position in shares of Okta in the 1st quarter valued at $27,000. IFM Investors Pty Ltd lifted its holdings in shares of Okta by 7.4% during the 1st quarter. IFM Investors Pty Ltd now owns 32,877 shares of the company's stock valued at $3,459,000 after acquiring an additional 2,279 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Okta by 10.2% during the first quarter. Resonant Capital Advisors LLC now owns 4,437 shares of the company's stock worth $467,000 after purchasing an additional 411 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Okta in the first quarter worth about $2,521,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Down 1.7%

NASDAQ OKTA traded down $1.71 on Monday, hitting $97.40. 2,187,521 shares of the company were exchanged, compared to its average volume of 3,089,043. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The firm has a market capitalization of $17.05 billion, a P/E ratio of 154.61, a price-to-earnings-growth ratio of 4.79 and a beta of 0.82. The company's 50 day moving average price is $109.04 and its 200-day moving average price is $100.76.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results 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. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm's revenue was up 11.5% compared to the same quarter last year. Analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive owned 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the completion of the sale, the insider directly owned 23,640 shares of the company's stock, valued at $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,935 shares of company stock valued at $1,100,347. Corporate insiders own 5.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on OKTA shares. Mizuho dropped their target price on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Guggenheim reduced their target price on shares of Okta from $140.00 to $138.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Cantor Fitzgerald assumed coverage on shares of Okta in a research note on Monday, March 31st. They set an "overweight" rating and a $130.00 price target on the stock. Barclays decreased their price objective on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group boosted their price target on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $119.44.

Okta 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.