Simon Quick Advisors LLC Buys Shares of 4,984 Okta, Inc. (NASDAQ:OKTA)

Simon Quick Advisors LLC acquired a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,984 shares of the company's stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC raised its position in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock valued at $352,000 after buying an additional 105 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock valued at $620,000 after buying an additional 136 shares during the last quarter. Stephens Inc. AR raised its position in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company's stock valued at $260,000 after buying an additional 157 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock valued at $445,000 after buying an additional 171 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock valued at $557,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Down 2.7%

NASDAQ:OKTA traded down $2.70 on Friday, hitting $97.48. 2,236,031 shares of the stock were exchanged, compared to its average volume of 3,022,269. The stock has a market capitalization of $17.07 billion, a price-to-earnings ratio of -278.51, a P/E/G ratio of 6.42 and a beta of 0.84. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company's 50-day moving average price is $109.25 and its 200 day moving average price is $98.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

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, beating the consensus estimate of $0.77 by $0.09. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. The business 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 firm earned $0.65 EPS. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Needham & Company LLC upped their target price on shares of Okta from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the company a "market perform" rating in a research note on Wednesday, May 28th. Evercore ISI upped their target price on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Finally, Loop Capital started coverage on shares of Okta in a research note on Monday, May 5th. They issued a "buy" rating and a $140.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Okta has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Insider Transactions at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,452 shares of company stock worth $2,697,360 in the last 90 days. Corporate insiders own 5.68% of the company's stock.

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.