Okta, Inc. (NASDAQ:OKTA) Stock Holdings Boosted by Versant Capital Management Inc

Versant Capital Management Inc raised its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 1,093.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,906 shares of the company's stock after buying an additional 4,495 shares during the quarter. Versant Capital Management Inc's holdings in Okta were worth $516,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OKTA. Norges Bank purchased a new stake in shares of Okta during the fourth quarter worth approximately $234,992,000. Ameriprise Financial Inc. increased its position in shares of Okta by 2,135.7% during the fourth 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 in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after purchasing an additional 1,699,176 shares during the period. Point72 Asset Management L.P. grew its stake in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares during the last quarter. Finally, Sachem Head Capital Management LP purchased a new position in Okta during the 4th quarter worth approximately $105,592,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Down 1.1%

Shares of NASDAQ:OKTA traded down $1.15 during trading on Tuesday, hitting $103.58. The company's stock had a trading volume of 3,554,198 shares, compared to its average volume of 3,755,170. 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, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The stock's 50-day moving average price is $109.07 and its two-hundred day moving average price is $97.33. The company has a market capitalization of $17.98 billion, a PE ratio of -295.94, a PEG ratio of 6.42 and a beta of 0.96.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction 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 represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,452 shares of company stock valued at $2,697,360. 5.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent research reports. Scotiabank increased their target price on shares of Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 28th. Needham & Company LLC lifted their price target on Okta from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Royal Bank of Canada cut their price target 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. JPMorgan Chase & Co. increased their price target on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, Truist Financial lifted their price objective on Okta from $92.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

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.