SBI Securities Co. Ltd. Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

SBI Securities Co. Ltd. grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 23.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,466 shares of the company's stock after buying an additional 5,067 shares during the period. SBI Securities Co. Ltd.'s holdings in Okta were worth $2,785,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Wolff Wiese Magana LLC boosted its stake in 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 purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new position in Okta in the 1st quarter worth about $27,000. Rossby Financial LCC bought a new position in Okta in the 1st quarter worth about $31,000. Center for Financial Planning Inc. bought a new position in Okta in the 1st quarter worth about $47,000. Finally, TD Private Client Wealth LLC boosted its stake in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Insider Buying and Selling at Okta

In related news, Director Jacques Frederic Kerrest sold 581 shares of the business's 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 owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the sale, the insider owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,002 shares of company stock worth $3,522,072. Company insiders own 5.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on OKTA shares. Westpark Capital restated a "buy" rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, May 28th. Morgan Stanley lowered their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Jefferies Financial Group restated a "hold" rating and set a $135.00 target price (up previously from $110.00) on shares of Okta in a research note on Friday, May 23rd. Finally, Arete Research upgraded shares of Okta to a "strong sell" rating and set a $83.00 target price on the stock in a research note on Monday, July 7th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Okta currently has a consensus rating of "Hold" and a consensus target price of $119.44.

Okta Price Performance

NASDAQ OKTA traded up $3.42 on Friday, reaching $95.52. The company had a trading volume of 3,135,336 shares, compared to its average volume of 3,132,410. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $16.72 billion, a PE ratio of 151.53, a price-to-earnings-growth ratio of 4.41 and a beta of 0.82. The firm's 50 day moving average price is $105.60 and its 200 day moving average price is $101.13. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced 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. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. Okta's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

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.