Paragon Capital Management Ltd cut its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,650 shares of the company’s stock after selling 5,492 shares during the quarter. Okta accounts for 1.9% of Paragon Capital Management Ltd’s investment portfolio, making the stock its 12th largest holding. Paragon Capital Management Ltd owned about 0.08% of Okta worth $8,644,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC raised its stake in shares of Okta by 18.4% in the fourth quarter. Bristlecone Advisors LLC now owns 5,077 shares of the company’s stock worth $347,000 after purchasing an additional 790 shares during the last quarter. Sepio Capital LP purchased a new stake in Okta in the 1st quarter valued at $232,000. Tower Research Capital LLC TRC raised its position in Okta by 5,467.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 16,257 shares of the company’s stock valued at $1,402,000 after buying an additional 15,965 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Okta by 5.5% in the first quarter. Elo Mutual Pension Insurance Co now owns 12,181 shares of the company’s stock valued at $1,050,000 after purchasing an additional 640 shares during the last quarter. Finally, FRG Family Wealth Advisors LLC purchased a new stake in shares of Okta in the first quarter valued at about $250,000. 77.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
OKTA has been the subject of several analyst reports. Sanford C. Bernstein decreased their price objective on shares of Okta from $92.00 to $84.00 in a research note on Thursday, June 1st. Mizuho boosted their price objective on Okta from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. DA Davidson raised their target price on Okta from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, August 31st. Guggenheim reissued a “buy” rating and issued a $96.00 price target on shares of Okta in a report on Monday, August 21st. Finally, Morgan Stanley raised their price objective on shares of Okta from $84.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Okta presently has an average rating of “Hold” and an average price target of $89.32.
Okta Price Performance
NASDAQ OKTA traded down $1.72 during trading hours on Friday, reaching $84.31. 4,511,701 shares of the stock traded hands, compared to its average volume of 2,861,258. Okta, Inc. has a 1 year low of $44.12 and a 1 year high of $91.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a 50 day simple moving average of $75.45 and a two-hundred day simple moving average of $76.78. The company has a market cap of $13.83 billion, a price-to-earnings ratio of -22.85 and a beta of 0.99.
Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. Okta had a negative return on equity of 9.40% and a negative net margin of 28.66%. The business had revenue of $556.00 million for the quarter, compared to analysts’ expectations of $534.67 million. During the same period in the previous year, the firm posted ($1.19) EPS. The business’s revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Okta, Inc. will post -2.85 EPS for the current fiscal 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's, a suite of products and services is used to manage and secure identities, 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 enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.
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