Kornitzer Capital Management Inc. KS Purchases 10,000 Shares of Okta, Inc. (NASDAQ:OKTA)

Kornitzer Capital Management Inc. KS increased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 10.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 105,750 shares of the company's stock after buying an additional 10,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Okta worth $7,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Management Group Inc. ADV boosted its holdings in shares of Okta by 32.3% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 11,758 shares of the company's stock worth $874,000 after buying an additional 2,871 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Okta in the 3rd quarter worth about $56,000. Asset Management One Co. Ltd. boosted its holdings in shares of Okta by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 144,382 shares of the company's stock worth $10,733,000 after buying an additional 6,537 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company's stock worth $29,479,000 after buying an additional 277,084 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Okta by 37.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,031 shares of the company's stock worth $523,000 after buying an additional 1,916 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

OKTA traded down $0.46 on Friday, reaching $76.72. The company had a trading volume of 1,059,015 shares, compared to its average volume of 1,922,615. The business has a 50 day simple moving average of $74.39 and a 200 day simple moving average of $86.90. The company has a market cap of $13.03 billion, a price-to-earnings ratio of -91.88, a P/E/G ratio of 16.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 52-week low of $65.98 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA - Get Free Report) last announced its 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. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $1,581,937.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $1,581,937.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on Friday, September 20th. The stock was 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 $638,908.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 478,584 shares of company stock valued at $35,958,556. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Mizuho cut their price target on shares of Okta from $104.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, October 17th. Citigroup dropped their price objective on shares of Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their price objective on shares of Okta from $100.00 to $92.00 and set an "equal weight" rating on the stock in a report on Monday. BTIG Research dropped their price objective on shares of Okta from $128.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Finally, UBS Group dropped their price objective on shares of Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $99.39.

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.