Posted by Defense World Staff on Jul 20th, 2024
Empowered Funds LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,633 shares of the company’s stock after purchasing an additional 339 shares during the quarter. Empowered Funds LLC’s holdings in Okta were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. City State Bank raised its position in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Okta during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC raised its position in shares of Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares during the period. Principal Securities Inc. acquired a new stake in shares of Okta during the 4th quarter worth approximately $48,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the 1st quarter worth approximately $63,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,792 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,840 shares of company stock worth $8,566,381. 7.00% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts recently commented on the company. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Thursday, May 30th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. BMO Capital Markets lowered their price target on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. Finally, UBS Group lowered their price target on Okta from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Okta has an average rating of “Hold” and an average target price of $105.58.
Read Our Latest Stock Analysis on Okta
Okta Stock Performance
Shares of NASDAQ:OKTA opened at $94.03 on Friday. The business has a 50 day moving average price of $93.42 and a 200 day moving average price of $93.63. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73.
Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The company had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. As a group, equities analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.
Okta Company 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.
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