272 Capital LP Acquires Shares of 9,943 Okta, Inc. (NASDAQ:OKTA)

272 Capital LP purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,943 shares of the company's stock, valued at approximately $739,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Okta by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 101,079 shares of the company's stock worth $10,575,000 after buying an additional 4,823 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Okta by 15.7% during the first quarter. Tidal Investments LLC now owns 5,405 shares of the company's stock valued at $565,000 after purchasing an additional 734 shares during the last quarter. Swedbank AB bought a new position in Okta during the first quarter valued at approximately $8,422,000. Cetera Investment Advisers boosted its holdings in Okta by 87.4% in the first quarter. Cetera Investment Advisers now owns 17,265 shares of the company's stock worth $1,806,000 after purchasing an additional 8,051 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Okta in the first quarter worth approximately $946,000. Institutional investors own 86.64% of the company's stock.

Okta Price Performance

OKTA traded up $1.14 during trading hours on Friday, hitting $77.56. The company's stock had a trading volume of 2,132,567 shares, compared to its average volume of 2,238,730. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -92.33, a P/E/G ratio of 18.99 and a beta of 1.02. The business's 50-day moving average price is $74.94 and its 200-day moving average price is $84.67. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12 month low of $66.69 and a 12 month high of $114.50.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Sell-side analysts expect that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 200,512 shares of the company's stock in a transaction dated 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 directly owns 8,495 shares in the company, valued at approximately $638,908.95. This represents a 95.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company's stock, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their position. 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. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OKTA shares. Canaccord Genuity Group decreased their target price on shares of Okta from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Friday, October 18th. Needham & Company LLC initiated coverage on Okta in a research report on Thursday, October 17th. They set a "buy" rating and a $100.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Okta from $105.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday. BMO Capital Markets upped their price target on shares of Okta from $100.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 29th. Finally, UBS Group lowered their price objective on shares of Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of "Hold" and a consensus price target of $98.45.

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.