UMB Bank n.a. Increases Holdings in Okta, Inc. (NASDAQ:OKTA)

UMB Bank n.a. grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 150.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 749 shares of the company’s stock after buying an additional 450 shares during the quarter. UMB Bank n.a.’s holdings in Okta were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Okta by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock valued at $1,245,564,000 after buying an additional 123,216 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Okta by 2.4% during the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after buying an additional 136,267 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Okta by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 2,154,575 shares of the company’s stock valued at $185,547,000 after buying an additional 78,366 shares in the last quarter. Eminence Capital LP raised its position in shares of Okta by 7.7% during the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock valued at $130,392,000 after buying an additional 113,994 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Okta during the 4th quarter valued at about $99,063,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on OKTA shares. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target (up from $85.00) on shares of Okta in a report on Friday, January 5th. Mizuho upped their price target on shares of Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Sanford C. Bernstein upped their price target on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Finally, Evercore ISI upped their price target on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.39.

Insiders Place Their Bets

In other news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,651 shares of company stock valued at $1,278,218. Insiders own 7.36% of the company’s stock.

Okta Trading Up 2.1 %

NASDAQ:OKTA opened at $101.50 on Friday. 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 $96.43 and a 200 day moving average of $84.75. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of -46.77 and a beta of 1.00.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The company had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. As a group, sell-side analysts anticipate that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

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.