Barings LLC Has $1.24 Million Position in Okta Inc (OKTA)

Barings LLC lifted its holdings in Okta Inc (NASDAQ:OKTA) by 93.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,700 shares of the company’s stock after acquiring an additional 11,900 shares during the period. Barings LLC’s holdings in Okta were worth $1,244,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OKTA. Wells Fargo & Company MN boosted its position in shares of Okta by 362.9% in the fourth quarter. Wells Fargo & Company MN now owns 64,872 shares of the company’s stock valued at $1,660,000 after acquiring an additional 50,859 shares during the period. Raymond James & Associates bought a new stake in shares of Okta in the fourth quarter valued at approximately $601,000. Teachers Advisors LLC boosted its position in shares of Okta by 71.0% in the fourth quarter. Teachers Advisors LLC now owns 34,271 shares of the company’s stock valued at $878,000 after acquiring an additional 14,226 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Okta by 35.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 41,721 shares of the company’s stock valued at $1,068,000 after acquiring an additional 10,941 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Okta in the fourth quarter valued at approximately $423,000. 57.60% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ OKTA opened at $54.92 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.13 and a quick ratio of 3.14. The firm has a market capitalization of $5.98 billion, a P/E ratio of -40.09 and a beta of -1.03. Okta Inc has a one year low of $23.43 and a one year high of $61.00.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, June 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $83.62 million during the quarter, compared to analyst estimates of $78.81 million. Okta had a negative return on equity of 59.95% and a negative net margin of 38.34%. Okta’s revenue was up 59.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.50) earnings per share. equities analysts anticipate that Okta Inc will post -1.21 EPS for the current year.

In related news, CFO William E. Losch sold 15,000 shares of the company’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $49.25, for a total value of $738,750.00. Following the completion of the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at $738,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $56.76, for a total value of $141,900.00. Following the completion of the transaction, the general counsel now owns 2,500 shares of the company’s stock, valued at $141,900. The disclosure for this sale can be found here. Insiders sold 403,474 shares of company stock valued at $21,334,953 over the last 90 days. 20.59% of the stock is currently owned by corporate insiders.

OKTA has been the subject of several research reports. Canaccord Genuity raised Okta from a “hold” rating to a “buy” rating and increased their price objective for the company from $36.00 to $50.00 in a research report on Monday, April 23rd. ValuEngine raised Okta from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Deutsche Bank increased their price objective on Okta from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, May 24th. KeyCorp increased their price objective on Okta from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 24th. Finally, Oppenheimer increased their price objective on Okta from $43.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, May 24th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $57.58.

About Okta

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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