Profund Advisors LLC reduced its stake in Okta Inc (NASDAQ:OKTA) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,182 shares of the company’s stock after selling 5,943 shares during the period. Profund Advisors LLC’s holdings in Okta were worth $4,592,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Independent Advisor Alliance boosted its position in shares of Okta by 2.5% during the first quarter. Independent Advisor Alliance now owns 4,123 shares of the company’s stock worth $341,000 after buying an additional 100 shares during the period. Lindbrook Capital LLC boosted its position in shares of Okta by 76.9% during the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the period. Stephens Inc. AR boosted its position in shares of Okta by 5.1% during the second quarter. Stephens Inc. AR now owns 2,581 shares of the company’s stock worth $319,000 after buying an additional 126 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Okta by 122.4% during the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after buying an additional 131 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its position in shares of Okta by 2.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 6,373 shares of the company’s stock worth $527,000 after buying an additional 146 shares during the period. Institutional investors own 70.94% of the company’s stock.
Shares of NASDAQ OKTA traded down $2.81 during trading on Friday, hitting $103.56. The company had a trading volume of 74,547 shares, compared to its average volume of 2,581,484. The company has a market cap of $12.52 billion, a P/E ratio of -100.93 and a beta of 1.06. Okta Inc has a 52 week low of $41.88 and a 52 week high of $141.85. The business’s 50-day moving average is $129.50 and its 200 day moving average is $111.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.12.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $140.48 million for the quarter, compared to analysts’ expectations of $131.19 million. Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The firm’s revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, research analysts expect that Okta Inc will post -1.4 EPS for the current year.
In other Okta news, Director Benjamin A. Horowitz sold 48,897 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $127.95, for a total transaction of $6,256,371.15. Following the sale, the director now directly owns 15,735 shares of the company’s stock, valued at approximately $2,013,293.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charles Race sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.34, for a total transaction of $5,367,000.00. Following the sale, the insider now directly owns 59,753 shares in the company, valued at $6,413,887.02. The disclosure for this sale can be found here. Insiders sold 741,820 shares of company stock worth $96,287,465 in the last ninety days. 14.69% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on OKTA shares. Cowen started coverage on Okta in a report on Wednesday, August 21st. They set an “outperform” rating and a $150.00 target price on the stock. BidaskClub cut Okta from a “buy” rating to a “hold” rating in a report on Wednesday. SunTrust Banks boosted their target price on Okta to $130.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on Okta from $127.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their target price on Okta from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $128.67.
Okta Company Profile
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
Read More: What is a closed-end mutual fund (CEF)?
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.