Tibra Equities Europe Ltd acquired a new stake in shares of Okta Inc (NASDAQ:OKTA) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,400 shares of the company’s stock, valued at approximately $1,319,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Vanguard Group Inc. increased its stake in shares of Okta by 19.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,386,104 shares of the company’s stock valued at $1,159,277,000 after purchasing an additional 1,527,751 shares in the last quarter. Coatue Management LLC increased its stake in shares of Okta by 234.1% in the 2nd quarter. Coatue Management LLC now owns 1,014,699 shares of the company’s stock valued at $125,326,000 after purchasing an additional 711,032 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Okta by 761.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 528,622 shares of the company’s stock valued at $65,290,000 after purchasing an additional 467,285 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in Okta by 27.1% in the 2nd quarter. Whale Rock Capital Management LLC now owns 1,870,680 shares of the company’s stock worth $231,048,000 after buying an additional 399,310 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Okta in the 2nd quarter worth about $46,680,000. Institutional investors and hedge funds own 69.29% of the company’s stock.
Several equities research analysts recently issued reports on OKTA shares. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Wednesday, October 30th. BMO Capital Markets started coverage on Okta in a report on Thursday, August 1st. They issued a “market perform” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Okta from $127.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. ValuEngine cut Okta from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price objective on Okta from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $130.26.
Shares of OKTA stock traded up $4.85 during trading on Friday, hitting $110.07. 94,608 shares of the stock traded hands, compared to its average volume of 2,344,000. The firm has a market capitalization of $12.47 billion, a P/E ratio of -106.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $107.61 and its 200-day moving average price is $118.00. Okta Inc has a 52-week low of $41.88 and a 52-week high of $141.85.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The firm had revenue of $140.48 million for the quarter, compared to analyst estimates of $131.19 million. Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, equities research analysts expect that Okta Inc will post -1.42 earnings per share for the current year.
In other Okta news, Director Patrick W. Grady sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $130.74, for a total value of $13,074,000.00. Following the sale, the director now owns 383,669 shares of the company’s stock, valued at $50,160,885.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William E. Losch sold 21,108 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $102.73, for a total value of $2,168,424.84. Following the completion of the sale, the chief financial officer now directly owns 12,572 shares in the company, valued at approximately $1,291,521.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,416 shares of company stock worth $43,301,450. Corporate insiders own 14.69% of the company’s stock.
Okta Company Profile
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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