Swedbank AB Purchases 609 Shares of Okta, Inc. (NASDAQ:OKTA)

Swedbank AB raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,011 shares of the company’s stock after acquiring an additional 609 shares during the period. Swedbank AB’s holdings in Okta were worth $5,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP grew its position in Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP boosted its holdings in shares of Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Okta by 0.8% in the 2nd quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after purchasing an additional 10,800 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after buying an additional 178,011 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This represents a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is currently owned by insiders.

Okta Trading Down 0.5 %

Shares of NASDAQ:OKTA opened at $76.42 on Thursday. Okta, Inc. has a 1 year low of $66.69 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market capitalization of $12.98 billion, a P/E ratio of -90.98, a P/E/G ratio of 18.73 and a beta of 1.02. The business’s 50-day moving average is $74.82 and its 200 day moving average is $85.02.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. On average, research analysts predict that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Barclays initiated coverage on shares of Okta in a report on Tuesday, November 19th. They set an “equal weight” rating and a $81.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group dropped their target price on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, September 24th. Finally, UBS Group reduced their price target on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.30.

Okta Profile

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.