Budros Ruhlin & Roe Inc. purchased a new position in shares of Okta Inc (NASDAQ:OKTA) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 5,000 shares of the company’s stock, valued at approximately $414,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its stake in shares of Okta by 27.5% during the 4th quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after acquiring an additional 1,996,090 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Okta by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the period. Vanguard Group Inc increased its position in shares of Okta by 1.8% in the third quarter. Vanguard Group Inc now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the period. BlackRock Inc. increased its position in shares of Okta by 16.4% in the fourth quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock worth $280,891,000 after purchasing an additional 618,835 shares during the period. Finally, Morgan Stanley increased its position in shares of Okta by 49.3% in the third quarter. Morgan Stanley now owns 2,256,056 shares of the company’s stock worth $158,736,000 after purchasing an additional 744,738 shares during the period. 65.78% of the stock is owned by institutional investors.
In other Okta news, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $93.27, for a total value of $1,865,400.00. Following the transaction, the chief financial officer now directly owns 28,798 shares of the company’s stock, valued at $2,685,989.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charles Race sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $83.76, for a total value of $2,512,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 612,450 shares of company stock worth $51,263,716. 20.59% of the stock is owned by insiders.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.03. The company had revenue of $115.47 million for the quarter, compared to analyst estimates of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. As a group, analysts predict that Okta Inc will post -1.38 EPS for the current year.
OKTA has been the topic of a number of recent analyst reports. SunTrust Banks cut Okta from a “buy” rating to a “hold” rating and lifted their target price for the company from $74.00 to $90.00 in a research report on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on Okta in a research report on Monday, February 4th. They issued an “equal weight” rating and a $85.00 target price on the stock. Goldman Sachs Group upgraded Okta from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $94.00 in a research report on Monday, March 18th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $90.00 target price (up previously from $75.00) on shares of Okta in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $96.00 target price (up previously from $75.00) on shares of Okta in a research report on Friday, March 8th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $82.11.
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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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