Benjamin F. Edwards & Company Inc. raised its stake in Okta Inc (NASDAQ:OKTA) by 75.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,675 shares of the company’s stock after purchasing an additional 1,150 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Okta were worth $188,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. FNY Investment Advisers LLC grew its position in shares of Okta by 2,375.2% during the third quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company’s stock worth $526,000 after acquiring an additional 7,197 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Okta during the third quarter worth approximately $503,000. Creative Planning grew its position in shares of Okta by 2,382.2% during the third quarter. Creative Planning now owns 107,006 shares of the company’s stock worth $7,529,000 after acquiring an additional 102,695 shares during the last quarter. First Trust Advisors LP grew its position in shares of Okta by 34.7% during the third quarter. First Trust Advisors LP now owns 3,078,968 shares of the company’s stock worth $216,636,000 after acquiring an additional 792,481 shares during the last quarter. Finally, First Midwest Bank Trust Division grew its position in shares of Okta by 24.1% during the third quarter. First Midwest Bank Trust Division now owns 8,433 shares of the company’s stock worth $593,000 after acquiring an additional 1,635 shares during the last quarter. Institutional investors own 59.04% of the company’s stock.
In other Okta news, Director Benjamin A. Horowitz sold 270,465 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $72.66, for a total value of $19,651,986.90. Following the completion of the sale, the director now owns 11,765 shares of the company’s stock, valued at $854,844.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jacques Frederic Kerrest sold 1,177 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $54.41, for a total value of $64,040.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 632,819 shares of company stock valued at $40,579,166. Corporate insiders own 20.59% of the company’s stock.
Shares of NASDAQ OKTA opened at $57.77 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.90. Okta Inc has a 1-year low of $24.93 and a 1-year high of $75.49. The firm has a market cap of $5.84 billion, a P/E ratio of -42.17 and a beta of -0.60.
Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, September 6th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.21. Okta had a negative return on equity of 56.91% and a negative net margin of 38.13%. The firm had revenue of $94.59 million during the quarter, compared to the consensus estimate of $85.00 million. During the same period last year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 57.0% on a year-over-year basis. On average, sell-side analysts predict that Okta Inc will post -1.12 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Okta in a research report on Wednesday, October 17th. They set a “neutral” rating and a $65.00 target price on the stock. BidaskClub lowered shares of Okta from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Canaccord Genuity increased their price target on Okta from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Needham & Company LLC increased their price target on Okta from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, Deutsche Bank increased their price target on Okta to $75.00 and gave the stock a “buy” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.36.
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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
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