Commonwealth Equity Services LLC grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 16.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,383 shares of the company’s stock after buying an additional 4,502 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Okta were worth $2,792,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Okta by 1.7% in the third quarter. Vanguard Group Inc. now owns 14,079,420 shares of the company’s stock worth $800,697,000 after purchasing an additional 237,961 shares in the last quarter. Sands Capital Management LLC grew its stake in Okta by 158.0% in the fourth quarter. Sands Capital Management LLC now owns 6,313,967 shares of the company’s stock worth $431,433,000 after purchasing an additional 3,866,915 shares in the last quarter. First Trust Advisors LP grew its stake in Okta by 2.2% in the fourth quarter. First Trust Advisors LP now owns 3,857,443 shares of the company’s stock worth $263,590,000 after purchasing an additional 83,072 shares in the last quarter. Geode Capital Management LLC grew its stake in Okta by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,076,209 shares of the company’s stock worth $141,703,000 after purchasing an additional 70,240 shares in the last quarter. Finally, Soma Equity Partners LP bought a new position in Okta in the fourth quarter worth approximately $111,036,000. Institutional investors own 77.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on OKTA. Sanford C. Bernstein dropped their target price on Okta from $92.00 to $84.00 in a research report on Thursday, June 1st. Stephens reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Okta in a research report on Thursday, August 31st. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of Okta in a research report on Thursday, August 31st. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of Okta in a research report on Thursday, August 31st. Finally, Guggenheim reaffirmed a “buy” rating and set a $96.00 target price on shares of Okta in a research report on Monday, August 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average price target of $89.24.
Okta Trading Up 1.2 %
OKTA stock opened at $87.17 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.26. Okta, Inc. has a 12-month low of $44.12 and a 12-month high of $91.50. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of -23.62 and a beta of 0.99. The business’s 50-day moving average is $72.21 and its 200 day moving average is $75.89.
Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Wednesday, August 30th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Okta had a negative net margin of 28.66% and a negative return on equity of 9.40%. The business had revenue of $556.00 million for the quarter, compared to analyst estimates of $534.67 million. During the same period last year, the company posted ($1.19) EPS. The business’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Okta, Inc. will post -2.81 EPS for the current fiscal year.
Insiders Place Their Bets
In other Okta news, insider Larissa Schwartz sold 1,958 shares of the firm’s 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 directly owns 20,522 shares of the company’s stock, valued at approximately $1,551,463.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction of $148,024.80. Following the sale, the insider now owns 20,522 shares of the company’s stock, valued at approximately $1,551,463.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brett Tighe sold 4,380 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 transaction of $331,128.00. Following 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. Insiders have sold 13,430 shares of company stock valued at $1,015,308 in the last ninety days. 7.36% of the stock is currently owned by corporate insiders.
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'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.
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