Signaturefd LLC Buys 3,173 Shares of Okta, Inc. (NASDAQ:OKTA)

Posted by Defense World Staff on Apr 15th, 2023

Signaturefd LLC grew its stake in Okta, Inc. (NASDAQ:OKTA – Get Rating) by 135.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,517 shares of the company’s stock after acquiring an additional 3,173 shares during the period. Signaturefd LLC’s holdings in Okta were worth $377,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OKTA. Allworth Financial LP grew its holdings in shares of Okta by 1,397.1% in the 3rd quarter. Allworth Financial LP now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 475 shares in the last quarter. Riverview Trust Co bought a new position in Okta during the third quarter worth about $30,000. Federated Hermes Inc. bought a new position in Okta during the second quarter worth about $31,000. Lindbrook Capital LLC grew its holdings in Okta by 107.1% during the fourth quarter. Lindbrook Capital LLC now owns 522 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Okta by 105.7% during the third quarter. Fifth Third Bancorp now owns 646 shares of the company’s stock worth $37,000 after purchasing an additional 332 shares during the period. Institutional investors own 73.02% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $74.30 on Friday. Okta, Inc. has a one year low of $44.12 and a one year high of $150.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a 50 day simple moving average of $79.33 and a two-hundred day simple moving average of $67.06.

Okta (NASDAQ:OKTA – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.11. Okta had a negative net margin of 43.87% and a negative return on equity of 12.53%. The business had revenue of $510.00 million during the quarter, compared to the consensus estimate of $488.99 million. On average, equities research analysts anticipate that Okta, Inc. will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 423 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $34,889.04. Following the sale, the director now owns 701 shares of the company’s stock, valued at $57,818.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Okta news, CEO Todd Mckinnon sold 3,117 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $257,090.16. Following the sale, the chief executive officer now owns 22,813 shares of the company’s stock, valued at $1,881,616.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 423 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total transaction of $34,889.04. Following the sale, the director now directly owns 701 shares in the company, valued at approximately $57,818.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,383 shares of company stock valued at $526,343. 7.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on Okta from $90.00 to $100.00 in a report on Thursday, March 2nd. KeyCorp lifted their price target on Okta from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. JPMorgan Chase & Co. lifted their price target on Okta from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. Westpark Capital initiated coverage on Okta in a report on Friday, March 17th. They set a “buy” rating and a $120.00 price target for the company. Finally, DA Davidson lifted their price target on Okta from $60.00 to $80.00 in a report on Thursday, March 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.54.

Okta Profile

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.

Signaturefd LLC Buys 3,173 Shares of Okta, Inc. (NASDAQ:OKTA)

Okta Price Performance

Insiders Place Their Bets

Analyst Upgrades and Downgrades

Okta Profile

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