Okta, Inc. (NASDAQ:OKTA) Stock Holdings Boosted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 112,650 shares of the company's stock after acquiring an additional 6,900 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Okta worth $11,853,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of OKTA. Massachusetts Financial Services Co. MA lifted its holdings in Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after purchasing an additional 2,830,582 shares during the period. Marshall Wace LLP raised its holdings in Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after buying an additional 938,509 shares during the period. Norges Bank acquired a new stake in Okta during the 4th quarter worth about $234,992,000. Geode Capital Management LLC raised its holdings in Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after buying an additional 135,110 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares during the period. Institutional investors own 86.64% of the company's stock.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,244 shares of the company's 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 sale, the insider owned 23,640 shares in the company, valued at $2,364,000. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jacques Frederic Kerrest sold 581 shares of the company'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 value of $58,268.49. Following the sale, the director owned 2,832 shares in the company, valued at approximately $284,021.28. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,930 shares of company stock valued at $391,511 over the last quarter. 5.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price objective on Okta from $123.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. JMP Securities reissued a "market perform" rating on shares of Okta in a research report on Wednesday, May 28th. Westpark Capital reissued a "buy" rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, May 28th. BTIG Research reissued a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $135.00 price target (up from $110.00) on shares of Okta in a research note on Friday, May 23rd. 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's stock. According to MarketBeat, Okta currently has a consensus rating of "Hold" and an average target price of $119.44.

Okta Price Performance

Shares of OKTA stock opened at $91.97 on Tuesday. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 145.99, a PEG ratio of 4.43 and a beta of 0.82. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The stock has a 50-day moving average price of $107.71 and a 200 day moving average price of $101.11. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results 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 return on equity of 2.79% and a net margin of 4.85%. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same period in the previous year, the company earned $0.65 EPS. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.

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