Fisher Asset Management LLC Purchases New Stake in Okta, Inc. (NASDAQ:OKTA)

Fisher Asset Management LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,269 shares of the company’s stock, valued at approximately $296,000.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in Okta during the fourth quarter worth $29,000. Principal Securities Inc. acquired a new position in Okta during the fourth quarter worth $48,000. Tucker Asset Management LLC acquired a new position in Okta during the third quarter worth $65,000. UMB Bank n.a. raised its holdings in Okta by 150.5% during the fourth quarter. UMB Bank n.a. now owns 749 shares of the company’s stock worth $68,000 after purchasing an additional 450 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Okta by 61.6% during the fourth quarter. Lindbrook Capital LLC now owns 782 shares of the company’s stock worth $71,000 after purchasing an additional 298 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 18,878 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKTA. UBS Group cut their price target on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Thursday, May 30th. BMO Capital Markets cut their price target on Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Okta in a report on Monday, June 17th. Finally, Evercore ISI raised Okta from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Okta presently has an average rating of “Hold” and an average price target of $104.48.

Okta Price Performance

Shares of NASDAQ OKTA opened at $88.35 on Tuesday. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The business has a 50-day moving average of $93.63 and a 200-day moving average of $92.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of -52.90 and a beta of 1.03.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. On average, equities analysts anticipate that Okta, Inc. will post -0.28 EPS for the current fiscal year.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.