Posted by Defense World Staff on May 13th, 2024
Metis Global Partners LLC trimmed its position in Okta, Inc. (NASDAQ:OKTA – Free Report) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,972 shares of the company’s stock after selling 335 shares during the quarter. Metis Global Partners LLC’s holdings in Okta were worth $269,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its position in Okta by 3.0% during the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock worth $77,005,000 after acquiring an additional 27,577 shares during the last quarter. RPG Investment Advisory LLC grew its position in Okta by 57.2% in the fourth quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after purchasing an additional 28,119 shares in the last quarter. Pearl River Capital LLC increased its stake in Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock valued at $3,422,000 after buying an additional 36,336 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Okta by 2,721.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after buying an additional 169,830 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Okta in the 3rd quarter valued at about $923,000. 86.64% of the stock is owned by institutional investors and hedge funds.
Okta Price Performance
Shares of OKTA opened at $97.42 on Monday. The firm has a 50 day simple moving average of $100.92 and a two-hundred day simple moving average of $87.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.
Okta (NASDAQ:OKTA – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. On average, equities research analysts anticipate that Okta, Inc. will post -1.51 EPS for the current year.
Insiders Place Their Bets
In related news, CAO Shibu Ninan sold 2,500 shares of Okta stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at approximately $590,013.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,779 shares of company stock valued at $1,205,990. 7.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
OKTA has been the subject of several recent research reports. Robert W. Baird increased their price target on Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Sanford C. Bernstein raised their target price on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and upped their price target for the stock from $64.00 to $135.00 in a research report on Thursday, February 29th. Susquehanna lifted their price objective on shares of Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average target price of $101.68.
Get Our Latest Stock Report on Okta
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.
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