National Asset Management Inc. lifted its position in Okta Inc (NASDAQ:OKTA) by 63.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,476 shares of the company’s stock after acquiring an additional 4,076 shares during the quarter. National Asset Management Inc.’s holdings in Okta were worth $867,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of OKTA. Independent Advisor Alliance lifted its holdings in shares of Okta by 2.5% in the 1st quarter. Independent Advisor Alliance now owns 4,123 shares of the company’s stock worth $341,000 after purchasing an additional 100 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Okta by 2.5% in the 4th quarter. Kovack Advisors Inc. now owns 5,107 shares of the company’s stock worth $326,000 after purchasing an additional 126 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Okta by 1.8% in the 4th quarter. First Mercantile Trust Co. now owns 11,300 shares of the company’s stock worth $721,000 after purchasing an additional 200 shares during the last quarter. Ausdal Financial Partners Inc. lifted its holdings in shares of Okta by 4.3% in the 4th quarter. Ausdal Financial Partners Inc. now owns 4,904 shares of the company’s stock worth $313,000 after purchasing an additional 201 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Okta by 5.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,640 shares of the company’s stock worth $296,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.
In other news, CEO Todd Mckinnon sold 5,223 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $82.31, for a total value of $429,905.13. Following the sale, the chief executive officer now owns 14,125 shares of the company’s stock, valued at approximately $1,162,628.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Race sold 30,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $80.21, for a total value of $2,406,300.00. Following the completion of the sale, the insider now directly owns 32,536 shares in the company, valued at approximately $2,609,712.56. The disclosure for this sale can be found here. Insiders have sold a total of 630,462 shares of company stock worth $54,573,997 in the last ninety days. 14.69% of the stock is owned by company insiders.
Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to the consensus estimate of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. On average, equities research analysts expect that Okta Inc will post -1.38 earnings per share for the current fiscal year.
OKTA has been the topic of several recent research reports. Goldman Sachs Group raised Okta from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $94.00 in a report on Monday, March 18th. Canaccord Genuity reissued a “buy” rating and issued a $85.00 price target (up previously from $75.00) on shares of Okta in a report on Friday, March 8th. They noted that the move was a valuation call. Needham & Company LLC reissued a “buy” rating and issued a $96.00 price target (up previously from $75.00) on shares of Okta in a report on Friday, March 8th. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, March 7th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $90.00 price target (up previously from $75.00) on shares of Okta in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.11.
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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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