Swedbank AB Purchases 609 Shares of Okta, Inc. (NASDAQ:OKTA)

Swedbank AB lifted its holdings in Okta, Inc. (NASDAQ:OKTA) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,011 shares of the company’s stock after acquiring an additional 609 shares during the period. Swedbank AB’s holdings in Okta were worth $5,948,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of OKTA. Fisher Asset Management LLC acquired a new stake in shares of Okta during the 4th quarter worth $296,000. B. Riley Wealth Advisors Inc. grew its stake in Okta by 19.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after buying an additional 556 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Okta by 4.3% during the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after buying an additional 122 shares in the last quarter. City State Bank increased its holdings in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of Okta by 6.9% in the 1st quarter. Ballentine Partners LLC now owns 2,651 shares of the company’s stock valued at $277,000 after buying an additional 170 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. Stifel Nicolaus decreased their price objective 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. Needham & Company LLC initiated coverage on Okta in a research note on Thursday. They issued a “buy” rating and a $100.00 price target on the stock. Susquehanna dropped their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Royal Bank of Canada dropped their price objective on shares of Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average target price of $99.38.

Okta Stock Performance

Shares of OKTA stock opened at $74.82 on Friday. 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. The firm has a 50 day moving average of $80.44 and a 200-day moving average of $89.29. The company has a market cap of $12.71 billion, a price-to-earnings ratio of -89.07, a price-to-earnings-growth ratio of 18.05 and a beta of 1.02.

Okta (NASDAQ:OKTA) last posted its quarterly 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 firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. On average, equities analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 92,729 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now owns 27,014 shares in the company, valued at $2,485,828.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 92,729 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68. The disclosure for this sale can be found here. Insiders sold 343,989 shares of company stock valued at $27,806,184 in the last three months. Corporate 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.