Strs Ohio grew its holdings in shares of Okta Inc (NASDAQ:OKTA) by 320.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,581 shares of the company’s stock after buying an additional 8,063 shares during the quarter. Strs Ohio’s holdings in Okta were worth $1,306,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in Okta by 76.9% during the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Okta by 122.4% during the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after purchasing an additional 131 shares during the last quarter. Focused Wealth Management Inc bought a new stake in Okta during the second quarter valued at $30,000. Truewealth LLC bought a new stake in Okta during the second quarter valued at $33,000. Finally, Nisa Investment Advisors LLC bought a new stake in Okta during the second quarter valued at $56,000. Institutional investors own 78.78% of the company’s stock.
In related news, CEO Todd Mckinnon sold 250,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $132.27, for a total value of $33,067,500.00. Following the completion of the transaction, the chief executive officer now owns 206,500 shares in the company, valued at approximately $27,313,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jonathan T. Runyan sold 3,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $106.11, for a total transaction of $318,330.00. The disclosure for this sale can be found here. Insiders sold a total of 546,604 shares of company stock valued at $70,714,556 in the last quarter. 14.69% of the stock is currently owned by insiders.
Okta stock opened at $132.11 on Tuesday. The business’s 50-day moving average price is $131.90. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of -128.26 and a beta of 1.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. Okta Inc has a one year low of $41.88 and a one year high of $141.85.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. The business had revenue of $125.20 million during the quarter, compared to analyst estimates of $116.83 million. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The company’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, research analysts expect that Okta Inc will post -1.35 earnings per share for the current year.
Several analysts have weighed in on OKTA shares. Piper Jaffray Companies boosted their target price on shares of Okta from $89.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. SunTrust Banks boosted their target price on shares of Okta to $110.00 and gave the company a “hold” rating in a research note on Friday, May 31st. BidaskClub upgraded shares of Okta from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Okta from $85.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Canaccord Genuity boosted their target price on shares of Okta from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $104.05.
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 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 their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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