Okta Inc (NASDAQ:OKTA) hit a new 52-week high on Tuesday . The company traded as high as $35.60 and last traded at $34.75, with a volume of 1302700 shares trading hands. The stock had previously closed at $34.75.
OKTA has been the topic of a number of recent analyst reports. SunTrust Banks initiated coverage on shares of Okta in a research note on Friday, October 27th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. KeyCorp reaffirmed a “buy” rating and issued a $35.00 target price on shares of Okta in a research note on Friday, November 10th. BidaskClub downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $34.00 target price on shares of Okta in a research note on Thursday, December 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Okta presently has an average rating of “Buy” and an average price target of $33.78.
The stock has a market capitalization of $3,640.00 and a PE ratio of -30.22.
Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Okta had a negative net margin of 46.70% and a negative return on equity of 169.65%. equities research analysts forecast that Okta Inc will post -1.48 earnings per share for the current year.
In other Okta news, COO Jacques Frederic Kerrest sold 6,612 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $30.34, for a total transaction of $200,608.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William E. Losch sold 13,800 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $30.00, for a total transaction of $414,000.00. Following the transaction, the chief financial officer now owns 6,900 shares in the company, valued at $207,000. The disclosure for this sale can be found here. Insiders have sold 848,452 shares of company stock worth $23,480,455 over the last quarter.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC grew its position in Okta by 387.3% during the fourth quarter. Champlain Investment Partners LLC now owns 2,859,000 shares of the company’s stock valued at $73,219,000 after acquiring an additional 2,272,290 shares during the last quarter. Glynn Capital Management LLC grew its holdings in shares of Okta by 3,125.6% in the fourth quarter. Glynn Capital Management LLC now owns 2,343,268 shares of the company’s stock worth $60,011,000 after purchasing an additional 2,270,623 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Okta by 24.4% in the fourth quarter. BlackRock Inc. now owns 1,577,619 shares of the company’s stock worth $40,404,000 after purchasing an additional 309,147 shares during the last quarter. FMR LLC bought a new position in shares of Okta in the second quarter worth approximately $23,135,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Okta by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock worth $29,291,000 after purchasing an additional 51,761 shares during the last quarter. Institutional investors and hedge funds own 28.18% of the company’s stock.
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Okta Company Profile
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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