Okta, Inc. (NASDAQ:OKTA) Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 149.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,900 shares of the company's stock after acquiring an additional 20,900 shares during the period. Cullinan Associates Inc.'s holdings in Okta were worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caprock Group LLC lifted its stake in Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company's stock valued at $267,000 after acquiring an additional 129 shares during the period. National Bank of Canada FI lifted its position in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company's stock valued at $124,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after purchasing an additional 142 shares during the last quarter. CWM LLC boosted its holdings in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company's stock valued at $272,000 after purchasing an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its position in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock worth $306,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Okta Trading Up 0.1 %

OKTA stock traded up $0.09 during midday trading on Friday, hitting $72.24. 1,348,476 shares of the company's stock were exchanged, compared to its average volume of 1,939,865. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $12.27 billion, a PE ratio of -85.89, a P/E/G ratio of 17.14 and a beta of 1.02. The business has a 50-day simple moving average of $78.78 and a two-hundred day simple moving average of $88.51.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share 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 during the quarter, compared to analysts' expectations of $632.24 million. On average, sell-side analysts predict that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OKTA. Citigroup lowered their target price on Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. Jefferies Financial Group lowered their price objective on Okta from $100.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, September 24th. Bank of America cut shares of Okta from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. Susquehanna lowered their price target on shares of Okta from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Okta from $113.00 to $97.00 and set a "buy" rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $98.96.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 475,793 shares of company stock valued at $35,759,000. 7.00% of the stock is currently owned by corporate insiders.

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.