Vontobel Holding Ltd. Purchases 73,840 Shares of Okta, Inc. (NASDAQ:OKTA)

Vontobel Holding Ltd. lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 60.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,871 shares of the company's stock after purchasing an additional 73,840 shares during the period. Vontobel Holding Ltd. owned about 0.11% of Okta worth $20,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Okta by 3,507.7% in the 4th 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. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta during the 4th quarter worth approximately $40,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Okta during the fourth quarter worth about $43,000. Finally, True Wealth Design LLC boosted its holdings in shares of Okta by 237.4% in 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 period. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the sale, the insider directly owned 23,640 shares in the company, valued at $2,364,000. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive owned 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,935 shares of company stock valued at $1,100,347. Insiders own 5.68% of the company's stock.

Okta Trading Down 0.4%

Shares of OKTA stock traded down $0.41 during trading hours on Wednesday, reaching $98.14. 2,249,126 shares of the stock traded hands, compared to its average volume of 3,072,600. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The firm has a market capitalization of $17.18 billion, a PE ratio of 155.78, a PEG ratio of 4.84 and a beta of 0.82. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $109.33 and a 200 day moving average price of $100.22.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OKTA. DA Davidson cut their price target on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Canaccord Genuity Group increased their target price on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Citigroup raised their target price on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Truist Financial increased their price objective on shares of Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. Finally, Susquehanna increased their target price on shares of Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.