Pictet Asset Management SA decreased its position in shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,436 shares of the company’s stock after selling 9,539 shares during the quarter. Pictet Asset Management SA’s holdings in Okta were worth $4,379,000 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 company. Sepio Capital LP grew its position in shares of Okta by 3.0% during the 2nd quarter. Sepio Capital LP now owns 3,777 shares of the company’s stock worth $341,000 after buying an additional 110 shares in the last quarter. Siemens Fonds Invest GmbH lifted its stake in shares of Okta by 4.1% during the 1st quarter. Siemens Fonds Invest GmbH now owns 2,912 shares of the company’s stock worth $440,000 after purchasing an additional 116 shares during the last quarter. Nippon Life Global Investors Americas Inc. lifted its stake in shares of Okta by 0.6% during the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 18,900 shares of the company’s stock worth $2,853,000 after purchasing an additional 120 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Okta by 4.9% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 3,113 shares of the company’s stock worth $281,000 after purchasing an additional 145 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its stake in shares of Okta by 6.4% during the 1st quarter. IndexIQ Advisors LLC now owns 2,619 shares of the company’s stock worth $395,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 75.47% of the company’s stock.
Wall Street Analyst Weigh In
OKTA has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Okta in a research note on Thursday, September 15th. They set a “buy” rating and a $90.00 price objective for the company. Macquarie initiated coverage on Okta in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $60.00 price objective for the company. Oppenheimer decreased their price objective on Okta from $140.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Needham & Company LLC cut Okta from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Finally, KeyCorp decreased their price target on Okta from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus price target of $89.59.
Insider Buying and Selling at Okta
Okta Stock Up 1.6 %
Okta stock opened at $49.86 on Friday. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of -8.45 and a beta of 1.21. Okta, Inc. has a 52 week low of $44.12 and a 52 week high of $264.39. The business’s 50-day moving average price is $54.41 and its 200 day moving average price is $79.00. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.40.
Okta (NASDAQ:OKTA – Get Rating) last posted its earnings results on Wednesday, August 31st. The company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($1.41) by $0.22. The firm had revenue of $435.38 million for the quarter, compared to analyst estimates of $430.66 million. Okta had a negative return on equity of 13.18% and a negative net margin of 57.21%. Okta’s revenue for the quarter was up 43.6% compared to the same quarter last year. During the same period last year, the company earned ($1.35) earnings per share. As a group, sell-side analysts anticipate that Okta, Inc. will post -5.12 earnings per share for the current year.
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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