Simon Quick Advisors LLC Takes $524,000 Position in Okta, Inc. (NASDAQ:OKTA)

Simon Quick Advisors LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 4,984 shares of the company’s stock, valued at approximately $524,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its stake in shares of Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after buying an additional 105 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock valued at $620,000 after buying an additional 136 shares during the period. Stephens Inc. AR boosted its holdings in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock valued at $445,000 after buying an additional 171 shares during the period. Finally, Great Lakes Advisors LLC boosted its holdings in shares of Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares during the period. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OKTA. Scotiabank increased their target price on shares of Okta from $109.00 to $115.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Westpark Capital restated a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, May 28th. Citigroup increased their target price on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Stephens restated an “equal weight” rating and set a $127.00 target price on shares of Okta in a report on Tuesday, May 27th. Finally, Cantor Fitzgerald began coverage on shares of Okta in a research report on Monday, March 31st. They set an “overweight” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $121.59.

Okta Price Performance

OKTA opened at $97.48 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of -278.51, a P/E/G ratio of 6.42 and a beta of 0.84. The firm’s fifty day moving average price is $109.25 and its two-hundred day moving average price is $98.69. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,452 shares of company stock valued at $2,697,360 over the last three months. 5.68% of the stock is currently owned by insiders.

About Okta

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.