Jacobson & Schmitt Advisors LLC Reduces Stock Position in Okta, Inc. (NASDAQ:OKTA)

Jacobson & Schmitt Advisors LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,772 shares of the company's stock after selling 20,021 shares during the period. Jacobson & Schmitt Advisors LLC's holdings in Okta were worth $7,973,000 as of its most recent SEC filing.

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

Okta Stock Performance

OKTA traded up $1.03 during trading on Thursday, hitting $92.10. The company's stock had a trading volume of 2,558,085 shares, compared to its average volume of 3,126,391. 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, Inc. has a one year low of $70.56 and a one year high of $127.57. The firm has a market cap of $16.12 billion, a PE ratio of 146.19, a P/E/G ratio of 4.41 and a beta of 0.82. The business's 50 day simple moving average is $106.17 and its 200-day simple moving average is $101.04.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, sell-side analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

OKTA has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Westpark Capital restated a "buy" rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Scotiabank upped their price objective on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, Okta currently has an average rating of "Hold" and an average target price of $119.44.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director directly owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction 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 sale, the insider owned 23,640 shares in the company, valued at approximately $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,984 shares of company stock valued at $2,051,460 over the last three months. Corporate insiders own 5.68% of the company's stock.

About Okta

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.