Swedbank AB acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 80,502 shares of the company's stock, valued at approximately $8,422,000.
Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in Okta by 22.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,971 shares of the company's stock worth $2,170,000 after purchasing an additional 4,404 shares during the period. UMB Bank n.a. boosted its stake in Okta by 150.5% in the 4th quarter. UMB Bank n.a. now owns 749 shares of the company's stock worth $68,000 after purchasing an additional 450 shares during the period. Arizona State Retirement System boosted its stake in Okta by 1.8% in the 4th quarter. Arizona State Retirement System now owns 43,082 shares of the company's stock worth $3,900,000 after purchasing an additional 779 shares during the period. International Assets Investment Management LLC boosted its stake in Okta by 7,678.0% in the 4th quarter. International Assets Investment Management LLC now owns 27,612 shares of the company's stock worth $2,500,000 after purchasing an additional 27,257 shares during the period. Finally, Barton Investment Management boosted its stake in Okta by 6.5% in the 4th quarter. Barton Investment Management now owns 298,741 shares of the company's stock worth $27,045,000 after purchasing an additional 18,126 shares during the period. 86.64% of the stock is currently owned by institutional investors.
Okta Stock Down 5.1 %
Shares of Okta stock traded down $4.69 during trading on Friday, hitting $86.69. 2,180,205 shares of the stock traded hands, compared to its average volume of 1,428,091. The firm has a market cap of $14.58 billion, a P/E ratio of -51.91 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The stock's fifty day simple moving average is $92.01 and its 200 day simple moving average is $94.33.
Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The firm had revenue of $617.00 million for the quarter, compared to analyst estimates of $604.33 million. On average, equities analysts predict that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $130.00 price target on shares of Okta in a research note on Thursday, May 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $125.00 target price on shares of Okta in a research report on Monday, June 17th. Wedbush reiterated an "outperform" rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. JPMorgan Chase & Co. increased their target price on Okta from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets lowered their target price on Okta from $110.00 to $100.00 and set a "market perform" rating for the company in a research report on Monday, June 3rd. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $105.58.
Check Out Our Latest Stock Report on OKTA
Insider Activity at Okta
In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the firm's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,792 shares of the firm's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now owns 29,809 shares of the company's stock, valued at $2,963,014.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the firm's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Insiders have sold a total of 362,256 shares of company stock valued at $34,154,578 over the last quarter. 7.00% of the stock is owned by corporate insiders.
Okta Profile
(Free Report)
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.
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