Alps Advisors Inc. acquired a new position in shares of Okta Inc (NASDAQ:OKTA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,148 shares of the company’s stock, valued at approximately $503,000.
A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its stake in Okta by 28.9% during the second quarter. FMR LLC now owns 7,078,025 shares of the company’s stock worth $356,520,000 after buying an additional 1,585,500 shares in the last quarter. BlackRock Inc. grew its stake in Okta by 66.0% during the second quarter. BlackRock Inc. now owns 3,802,964 shares of the company’s stock worth $191,555,000 after buying an additional 1,512,528 shares in the last quarter. Putnam Investments LLC grew its stake in Okta by 23.5% during the second quarter. Putnam Investments LLC now owns 3,145,511 shares of the company’s stock worth $158,439,000 after buying an additional 599,141 shares in the last quarter. First Trust Advisors LP grew its stake in 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 buying an additional 792,481 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in Okta by 113.5% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,626,913 shares of the company’s stock worth $81,948,000 after buying an additional 864,933 shares in the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.
In other news, CFO William E. Losch sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $55.31, for a total value of $829,650.00. Following the sale, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $829,650. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin A. Horowitz sold 270,465 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $72.66, for a total transaction of $19,651,986.90. Following the completion of the sale, the director now owns 11,765 shares in the company, valued at $854,844.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 632,819 shares of company stock worth $40,579,166. 20.59% of the stock is currently owned by corporate insiders.
OKTA opened at $56.10 on Wednesday. Okta Inc has a 1-year low of $24.93 and a 1-year high of $75.49. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.90 and a current ratio of 2.90. The company has a market capitalization of $6.31 billion, a PE ratio of -40.95 and a beta of 0.97.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, September 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $94.59 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period last year, the company posted ($0.16) EPS. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. On average, analysts expect that Okta Inc will post -1.12 earnings per share for the current year.
A number of brokerages have issued reports on OKTA. Robert W. Baird began coverage on shares of Okta in a research note on Wednesday, October 17th. They set a “neutral” rating and a $65.00 price objective on the stock. BidaskClub downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Canaccord Genuity increased their price objective on shares of Okta from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Needham & Company LLC increased their price objective on shares of Okta from $58.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Deutsche Bank increased their price objective on shares of Okta to $75.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One 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 a consensus rating of “Buy” and a consensus price target of $68.36.
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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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