Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 40.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,559 shares of the company’s stock after buying an additional 5,631 shares during the quarter. Xponance Inc.’s holdings in Okta were worth $1,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Gilbert & Cook Inc. boosted its stake in shares of Okta by 21.4% in the 4th quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock valued at $1,376,000 after buying an additional 2,676 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Okta by 3,886.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,514 shares of the company’s stock worth $2,310,000 after acquiring an additional 24,874 shares during the last quarter. TD Asset Management Inc lifted its stake in Okta by 76.1% in the fourth quarter. TD Asset Management Inc now owns 34,810 shares of the company’s stock worth $3,151,000 after acquiring an additional 15,039 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in Okta during the 4th quarter worth approximately $626,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Okta in the 4th quarter valued at approximately $491,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of NASDAQ OKTA opened at $74.29 on Friday. The stock has a fifty day moving average price of $85.61 and a 200 day moving average price of $92.76. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market cap of $12.50 billion, a PE ratio of -44.49, a P/E/G ratio of 42.19 and a beta of 1.01.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Sell-side analysts forecast that Okta, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Okta from $130.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus decreased their price target on Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna dropped their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Jefferies Financial Group cut their target price on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Piper Sandler lowered their price target on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.62.

Insiders Place Their Bets

In related news, Director Jacques Frederic Kerrest sold 26,618 shares of Okta stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total value of $2,669,519.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jacques Frederic Kerrest sold 26,618 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.29, for a total transaction of $2,669,519.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 578,339 shares of company stock worth $50,196,405. Company insiders own 7.00% of the company’s stock.

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.