Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 37,633 shares of the company's stock after acquiring an additional 2,938 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Okta were worth $3,959,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its holdings in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Okta in the 1st quarter worth approximately $27,000. Rossby Financial LCC acquired a new position in shares of Okta in the 1st quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Okta during the 4th quarter worth approximately $40,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Okta during the 4th quarter worth approximately $43,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Okta in a report on Monday, March 31st. They set an "overweight" rating and a $130.00 target price on the stock. DA Davidson reduced their target price on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen lowered shares of Okta from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada reduced their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Finally, UBS Group reduced their target price on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $118.61.

Okta Trading Down 3.2%

Shares of Okta stock opened at $97.84 on Tuesday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. 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 has a market capitalization of $17.13 billion, a P/E ratio of 155.30, a PEG ratio of 4.89 and a beta of 0.82. The company's fifty day moving average is $101.80 and its two-hundred day moving average is $102.11.

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, 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 for the quarter, compared to the consensus estimate of $680.14 million. During the same period last year, the firm posted $0.65 EPS. Okta's revenue for the quarter was up 11.5% on a year-over-year basis. Analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 6,027 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $92.01, for a total transaction of $554,544.27. Following the transaction, the executive directly owned 19,067 shares of the company's stock, valued at approximately $1,754,354.67. This trade represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the transaction, the chief executive officer directly owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,594 shares of company stock worth $7,482,790 in the last three months. Company insiders own 5.68% of the company's stock.

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.

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