Signition LP bought a new stake in Okta Inc (NASDAQ:OKTA) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 4,465 shares of the company’s stock, valued at approximately $314,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in Okta by 129.9% in the second quarter. Parallel Advisors LLC now owns 2,393 shares of the company’s stock valued at $120,000 after acquiring an additional 1,352 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Okta by 276.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,633 shares of the company’s stock valued at $105,000 after acquiring an additional 1,933 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Okta by 75.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,675 shares of the company’s stock worth $188,000 after buying an additional 1,150 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Okta in the second quarter worth $139,000. Finally, First American Bank purchased a new position in shares of Okta in the third quarter worth $218,000. Institutional investors own 59.84% of the company’s stock.
Shares of Okta stock opened at $57.77 on Monday. 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 $6.31 billion, a P/E ratio of -42.17 and a beta of 0.97.
Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.21. Okta had a negative net margin of 38.13% and a negative return on equity of 56.91%. The firm had revenue of $94.59 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter last year, the company posted ($0.16) earnings per share. The firm’s revenue was up 57.0% compared to the same quarter last year. As a group, equities analysts anticipate that Okta Inc will post -1.12 earnings per share for the current fiscal year.
In related news, 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 transaction of $64,040.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $19,651,986.90. Following the transaction, the director now directly owns 11,765 shares of the company’s stock, valued at approximately $854,844.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 632,819 shares of company stock valued at $40,579,166. 20.59% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of Okta from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. SunTrust Banks raised their price target on shares of Okta to $72.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Deutsche Bank raised their price target on shares of Okta to $75.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Robert W. Baird assumed coverage on shares of Okta in a report on Wednesday, October 17th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Okta to $88.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.36.
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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