Banque Cantonale Vaudoise Acquires 464 Shares of Okta, Inc. (NASDAQ:OKTA)

Posted by Defense World Staff on Jul 6th, 2023

Banque Cantonale Vaudoise lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 16.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,269 shares of the company’s stock after acquiring an additional 464 shares during the period. Banque Cantonale Vaudoise’s holdings in Okta were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glassman Wealth Services lifted its holdings in shares of Okta by 150.7% during the 4th quarter. Glassman Wealth Services now owns 361 shares of the company’s stock worth $25,000 after acquiring an additional 217 shares during the period. GoalVest Advisory LLC lifted its holdings in Okta by 69.4% during the 1st quarter. GoalVest Advisory LLC now owns 410 shares of the company’s stock valued at $35,000 after purchasing an additional 168 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Okta by 107.1% during the 4th quarter. Lindbrook Capital LLC now owns 522 shares of the company’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new position in Okta during the 1st quarter valued at about $39,000. Finally, Alpha Paradigm Partners LLC bought a new position in Okta during the 3rd quarter valued at about $41,000. 76.57% of the stock is owned by institutional investors.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $70.34 on Thursday. The firm has a 50 day moving average price of $75.55 and a 200 day moving average price of $75.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.09. Okta, Inc. has a 52-week low of $44.12 and a 52-week high of $110.94.

Okta (NASDAQ:OKTA – Free Report) last announced its quarterly earnings results on Wednesday, May 31st. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.07. Okta had a negative net margin of 35.26% and a negative return on equity of 10.77%. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $510.58 million. On average, sell-side analysts forecast that Okta, Inc. will post -2.78 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 1,958 shares of Okta stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $75.60, for a total value of $148,024.80. Following the transaction, the insider now owns 20,522 shares of the company’s stock, valued at $1,551,463.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Larissa Schwartz sold 1,958 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $75.60, for a total value of $148,024.80. Following the sale, the insider now owns 20,522 shares of the company’s stock, valued at $1,551,463.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Tighe sold 4,380 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $75.60, for a total transaction of $331,128.00. Following the completion of the sale, the chief financial officer now directly owns 48,516 shares in the company, valued at approximately $3,667,809.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock valued at $1,022,907. 7.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OKTA shares. Robert W. Baird lifted their price target on shares of Okta from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, March 31st. Westpark Capital started coverage on shares of Okta in a report on Friday, March 17th. They set a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. downgraded shares of Okta from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $85.00 in a report on Thursday, June 1st. Royal Bank of Canada lifted their price target on shares of Okta from $100.00 to $110.00 in a report on Tuesday, May 30th. Finally, Oppenheimer boosted their target price on shares of Okta from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.13.

Okta Profile

(Free Report)

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's, a suite of products and services is used 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 applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.