Perigon Wealth Management LLC lessened its stake in shares of Okta Inc (NASDAQ:OKTA) by 16.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,818 shares of the company’s stock after selling 350 shares during the period. Perigon Wealth Management LLC’s holdings in Okta were worth $364,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of OKTA. Harwood Advisory Group LLC bought a new position in shares of Okta during the 1st quarter worth approximately $30,000. Verus Capital Partners LLC increased its holdings in Okta by 1,866.7% during the 1st quarter. Verus Capital Partners LLC now owns 295 shares of the company’s stock valued at $36,000 after purchasing an additional 280 shares in the last quarter. James Investment Research Inc. acquired a new stake in Okta during the 2nd quarter valued at $38,000. Lindbrook Capital LLC increased its holdings in Okta by 62.0% during the 1st quarter. Lindbrook Capital LLC now owns 324 shares of the company’s stock valued at $40,000 after purchasing an additional 124 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Okta by 644.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 365 shares of the company’s stock valued at $45,000 after purchasing an additional 316 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.
Shares of Okta stock opened at $220.98 on Friday. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 2.52. Okta Inc has a 12 month low of $88.66 and a 12 month high of $224.90. The business has a fifty day simple moving average of $203.51 and a 200 day simple moving average of $158.22.
Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.10. Okta had a negative return on equity of 44.99% and a negative net margin of 33.34%. The business had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $171.57 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year. As a group, equities research analysts expect that Okta Inc will post -1.51 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on OKTA shares. BTIG Research cut Okta from a “buy” rating to a “neutral” rating in a report on Monday, June 29th. Guggenheim raised their price target on Okta from $145.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. ValuEngine cut Okta from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Oppenheimer raised their price target on Okta from $130.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, DA Davidson lifted their target price on Okta from $140.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, May 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $184.11.
In other Okta news, General Counsel Jonathan T. Runyan sold 1,356 shares of Okta stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $185.62, for a total transaction of $251,700.72. Following the transaction, the general counsel now directly owns 1,406 shares in the company, valued at $260,981.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin A. Horowitz sold 37,882 shares of Okta stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $207.05, for a total value of $7,843,468.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 498,696 shares of company stock valued at $98,057,379. 12.02% of the stock is owned by insiders.
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.
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