Thoroughbred Financial Services LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,516 shares of the company's stock, valued at approximately $580,000.
A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after acquiring an additional 2,830,582 shares during the last quarter. Ameriprise Financial Inc. raised its position in Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the period. Ninety One UK Ltd bought a new stake in Okta in the first quarter worth $189,915,000. Alyeska Investment Group L.P. boosted its position in Okta by 2,309.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after buying an additional 1,699,176 shares during the period. Finally, Point72 Asset Management L.P. grew its stake 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 last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Okta news, CEO Todd Mckinnon sold 31,592 shares of Okta stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the sale, the chief executive officer owned 20,682 shares of the company's stock, valued at approximately $1,970,994.60. This trade represents a 60.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock worth $8,382,790 in the last three months. Corporate insiders own 5.68% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on OKTA shares. Jefferies Financial Group lowered their target price on Okta from $130.00 to $105.00 and set a "hold" rating for the company in a research note on Thursday, July 24th. Arete Research upgraded Okta to a "strong sell" rating and set a $83.00 price objective for the company in a research report on Monday, July 7th. Mizuho cut their target price on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, May 28th. Finally, Barclays dropped their price target on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $118.61.
Get Our Latest Analysis on Okta
Okta Trading Up 1.8%
Okta stock opened at $97.75 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The business's fifty day simple moving average is $98.47 and its two-hundred day simple moving average is $102.49. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 155.16, a price-to-earnings-growth ratio of 4.64 and a beta of 0.80.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly 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 firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same quarter 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. As a group, equities analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.
About Okta
(
Free Report)
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.
Further Reading
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