Okta, Inc. (NASDAQ:OKTA) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 333.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,300 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Okta were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Banque Cantonale Vaudoise boosted its stake in Okta by 4.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after buying an additional 122 shares during the last quarter. Caprock Group LLC boosted its position in shares of Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI grew its holdings in Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC increased its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. Finally, CWM LLC raised its stake in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.9 %

NASDAQ:OKTA opened at $78.65 on Wednesday. The company has a market cap of $13.23 billion, a PE ratio of -47.10, a P/E/G ratio of 26.91 and a beta of 1.02. The business’s 50 day moving average is $81.23 and its two-hundred day moving average is $89.69. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (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 firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. On average, analysts predict that Okta, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research analyst reports. Truist Financial restated a “hold” rating and set a $95.00 price objective (down from $105.00) on shares of Okta in a report on Thursday, August 29th. Scotiabank cut their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. The Goldman Sachs Group decreased their target price on Okta from $130.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Canaccord Genuity Group cut their price target on shares of Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.43.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 32,516 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the transaction, the insider now directly owns 27,014 shares of the company’s stock, valued at $2,485,828.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 511,029 shares of company stock valued at $43,610,757. Company insiders own 7.00% of the company’s stock.

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.