Y Intercept Hong Kong Ltd Acquires New Position in Okta, Inc. (NASDAQ:OKTA)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,988 shares of the company's stock, valued at approximately $1,998,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after buying an additional 4,171 shares in the last quarter. Trek Financial LLC bought a new stake in Okta during the first quarter worth $426,000. Merit Financial Group LLC bought a new stake in Okta during the first quarter worth $823,000. Stephens Investment Management Group LLC grew its holdings in Okta by 10.4% during the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after buying an additional 46,818 shares in the last quarter. Finally, Greenwood Capital Associates LLC grew its holdings in Okta by 165.7% during the first quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock worth $742,000 after buying an additional 4,395 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

NASDAQ OKTA traded up $3.21 during trading hours on Friday, hitting $101.10. The company had a trading volume of 9,542,627 shares, compared to its average volume of 2,744,683. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The firm has a 50 day simple moving average of $102.38 and a 200 day simple moving average of $101.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 160.48, a PEG ratio of 4.89 and a beta of 0.82.

Okta (NASDAQ:OKTA - Get Free Report) last issued 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. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. During the same quarter last year, the company earned $0.65 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares of the company's stock, valued at $284,021.28. The trade was a 17.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the transaction, the insider directly owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This represents a 69.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,594 shares of company stock worth $7,482,790. 5.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group raised their price target on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Loop Capital started coverage on Okta in a research note on Monday, May 5th. They issued a "buy" rating and a $140.00 price objective for the company. Finally, Roth Capital restated a "buy" rating and issued a $119.00 price objective on shares of Okta in a research note on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $118.61.

Okta Company 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.