Steward Partners Investment Advisory LLC Increases Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Steward Partners Investment Advisory LLC raised its stake in Okta, Inc. (NASDAQ:OKTAGet Rating) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 882 shares of the company’s stock after purchasing an additional 163 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Okta were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Capital Research Global Investors grew its position in shares of Okta by 4.9% during the fourth quarter. Capital Research Global Investors now owns 2,819,551 shares of the company’s stock worth $632,059,000 after acquiring an additional 132,406 shares during the last quarter. Deer Management Co. LLC purchased a new position in shares of Okta during the fourth quarter worth approximately $614,155,000. American Century Companies Inc. grew its position in shares of Okta by 13.6% during the fourth quarter. American Century Companies Inc. now owns 2,074,508 shares of the company’s stock worth $465,042,000 after acquiring an additional 247,672 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Okta by 15.1% during the fourth quarter. Geode Capital Management LLC now owns 1,805,097 shares of the company’s stock worth $404,114,000 after acquiring an additional 236,403 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Okta during the fourth quarter worth approximately $240,716,000. 76.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ledger Susan St. sold 2,660 shares of Okta stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $79.97, for a total value of $212,720.20. Following the transaction, the insider now directly owns 36,641 shares of the company’s stock, valued at approximately $2,930,180.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Okta news, CAO Christopher K. Kramer sold 831 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $79.97, for a total value of $66,455.07. Following the transaction, the chief accounting officer now directly owns 14,316 shares of the company’s stock, valued at approximately $1,144,850.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ledger Susan St. sold 2,660 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $79.97, for a total value of $212,720.20. Following the completion of the transaction, the insider now directly owns 36,641 shares in the company, valued at $2,930,180.77. The disclosure for this sale can be found here. Insiders have sold 16,442 shares of company stock valued at $1,316,786 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Okta from $260.00 to $145.00 in a research report on Tuesday, May 31st. Morgan Stanley decreased their price target on Okta to $150.00 and set a “na” rating for the company in a report on Wednesday, May 18th. KeyCorp reduced their target price on Okta from $225.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Stephens began coverage on Okta in a report on Friday, June 3rd. They issued a “buy” rating and a $145.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $195.00 to $130.00 in a report on Friday, June 3rd. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Okta Stock Performance

NASDAQ OKTA opened at $98.53 on Tuesday. The firm has a market capitalization of $15.55 billion, a P/E ratio of -15.42 and a beta of 1.05. Okta, Inc. has a 1-year low of $77.01 and a 1-year high of $276.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.45 and a quick ratio of 2.45. The business’s 50-day simple moving average is $92.78 and its 200-day simple moving average is $132.90.

Okta (NASDAQ:OKTAGet Rating) last released its quarterly earnings data on Thursday, June 2nd. The company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.01. The business had revenue of $414.94 million for the quarter, compared to analyst estimates of $388.77 million. Okta had a negative return on equity of 13.13% and a negative net margin of 67.06%. The company’s revenue was up 65.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.59) EPS. Equities analysts predict that Okta, Inc. will post -5.56 EPS for the current year.

Okta Company Profile

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Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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