American Trust Purchases 3,865 Shares of Okta, Inc. (NASDAQ:OKTA)

American Trust lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 118.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,122 shares of the company’s stock after buying an additional 3,865 shares during the period. American Trust’s holdings in Okta were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP grew its position in shares of Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after acquiring an additional 1,227,890 shares during the period. Point72 Asset Management L.P. grew its holdings in Okta by 1,465.8% during the fourth quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after purchasing an additional 732,900 shares during the period. Vanguard Group Inc. increased its position in Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after buying an additional 438,496 shares in the last quarter. Eminence Capital LP raised its stake in shares of Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after buying an additional 310,918 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in shares of Okta by 286.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 290,419 shares of the company’s stock worth $26,292,000 after buying an additional 215,292 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $72.58 on Wednesday. The firm has a market capitalization of $12.21 billion, a PE ratio of -43.46, a PEG ratio of 37.51 and a beta of 1.01. The stock’s fifty day moving average is $84.33 and its 200 day moving average is $91.82. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two 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.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. On average, sell-side analysts anticipate that Okta, Inc. will post 0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler reduced their target price on shares of Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Thursday, August 29th. Citigroup dropped their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. The Goldman Sachs Group decreased their price target on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Guggenheim restated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $104.62.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the company’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 transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now owns 27,713 shares in the company, valued at approximately $2,051,039.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 34,620 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $96.04, for a total value of $3,324,904.80. The disclosure for this sale can be found here. Insiders sold a total of 575,059 shares of company stock valued at $49,882,706 over the last 90 days. Insiders own 7.00% of the company’s stock.

Okta Company 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.