Two Sigma Advisers LP Takes $985,000 Position in Okta, Inc. (NASDAQ:OKTA)

Two Sigma Advisers LP bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,500 shares of the company's stock, valued at approximately $985,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC grew its position in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Okta during the fourth quarter valued at approximately $43,000. Wingate Wealth Advisors Inc. bought a new position in Okta during the fourth quarter valued at approximately $44,000. Finally, True Wealth Design LLC grew its position in Okta by 237.4% during the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock valued at $45,000 after acquiring an additional 406 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, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company's stock, 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. In the last 90 days, insiders sold 24,452 shares of company stock valued at $2,697,360. 5.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 28th. Morgan Stanley cut their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Scotiabank raised their target price 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. Guggenheim cut their target price on shares of Okta from $140.00 to $138.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, BTIG Research restated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Okta Stock Down 1.3%

Shares of OKTA traded down $1.42 during trading hours on Thursday, hitting $104.18. The company had a trading volume of 2,675,980 shares, compared to its average volume of 2,965,240. The firm has a fifty day moving average price of $108.85 and a 200-day moving average price of $97.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $18.09 billion, a price-to-earnings ratio of -297.66, a P/E/G ratio of 6.42 and a beta of 0.96. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

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. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a positive return on equity of 0.47% and a negative net margin of 1.54%. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal 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.