Virtu Financial LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,434 shares of the company's stock, valued at approximately $1,729,000.
A number of other large investors have also bought and sold shares of OKTA. Massachusetts Financial Services Co. MA grew its stake 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 valued at $389,308,000 after buying an additional 2,830,582 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Ninety One UK Ltd bought a new stake in shares of Okta during the first quarter worth about $189,915,000. Alyeska Investment Group L.P. raised its holdings 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 worth $139,693,000 after acquiring an additional 1,699,176 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Larissa Schwartz sold 2,244 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This represents a 8.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 88,594 shares of company stock valued at $8,382,790 over the last quarter. 5.68% of the stock is currently owned by insiders.
Okta Trading Down 2.6%
OKTA traded down $2.37 on Thursday, hitting $88.61. 3,515,375 shares of the company were exchanged, compared to its average volume of 3,607,422. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The stock has a market capitalization of $15.51 billion, a PE ratio of 140.65, a price-to-earnings-growth ratio of 4.32 and a beta of 0.80. The firm has a fifty day simple moving average of $97.09 and a two-hundred day simple moving average of $102.57.
Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results 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. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. Sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Okta from $130.00 to $105.00 and set a "hold" rating for the company in a research note on Thursday, July 24th. Scotiabank upped their price target on Okta from $109.00 to $115.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Stifel Nicolaus raised their price objective on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Finally, Roth Capital reiterated a "buy" rating and issued a $119.00 target price on shares of Okta in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Okta has a consensus rating of "Hold" and a consensus price target of $118.61.
Check Out Our Latest Report on Okta
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.
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