Okta, Inc. (NASDAQ:OKTA) Shares Bought by Maplelane Capital LLC

Maplelane Capital LLC grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 31.9% during the second quarter, Holdings Channel.com reports. The firm owned 343,000 shares of the company’s stock after buying an additional 83,016 shares during the quarter. Okta accounts for approximately 1.1% of Maplelane Capital LLC’s portfolio, making the stock its 24th biggest position. Maplelane Capital LLC’s holdings in Okta were worth $32,108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. City State Bank raised its position in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Okta during the second quarter valued at approximately $47,000. nVerses Capital LLC bought a new stake in Okta during the second quarter worth approximately $47,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Okta in the first quarter worth approximately $63,000. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Okta in a research report on Thursday, August 29th. Truist Financial reaffirmed a “hold” rating and set a $95.00 price objective (down from $105.00) on shares of Okta in a research report on Thursday, August 29th. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price target on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $104.62.

Okta Trading Down 0.8 %

Okta stock opened at $74.29 on Friday. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $12.50 billion, a PE ratio of -44.49, a PEG ratio of 42.19 and a beta of 1.01. The business’s 50-day simple moving average is $85.61 and its 200-day simple moving average is $92.76.

Okta (NASDAQ:OKTA) last issued its quarterly 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. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Equities research analysts forecast that Okta, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 26,618 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $100.29, for a total value of $2,669,519.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The disclosure for this sale can be found here. Insiders sold a total of 578,339 shares of company stock worth $50,196,405 in the last ninety days. 7.00% of the stock is currently owned by insiders.

Okta Profile

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.