Caxton Associates LP purchased a new position in shares of Okta Inc (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,338 shares of the company’s stock, valued at approximately $468,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kovack Advisors Inc. increased its stake in Okta by 2.5% during the 4th quarter. Kovack Advisors Inc. now owns 5,107 shares of the company’s stock worth $326,000 after buying an additional 126 shares during the period. First Mercantile Trust Co. grew its holdings in Okta by 1.8% during the 4th quarter. First Mercantile Trust Co. now owns 11,300 shares of the company’s stock worth $721,000 after acquiring an additional 200 shares in the last quarter. Ausdal Financial Partners Inc. grew its holdings in Okta by 4.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 4,904 shares of the company’s stock worth $313,000 after acquiring an additional 201 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Okta by 5.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,640 shares of the company’s stock worth $296,000 after acquiring an additional 240 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Okta by 4.7% during the 4th quarter. Diversified Trust Co now owns 9,015 shares of the company’s stock worth $575,000 after acquiring an additional 405 shares in the last quarter. 66.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael R. Kourey sold 17,500 shares of Okta stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $62.24, for a total value of $1,089,200.00. Following the completion of the transaction, the director now directly owns 11,765 shares of the company’s stock, valued at approximately $732,253.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Race sold 30,000 shares of Okta stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.21, for a total transaction of $2,406,300.00. Following the completion of the transaction, the insider now directly owns 32,536 shares of the company’s stock, valued at $2,609,712.56. The disclosure for this sale can be found here. Insiders sold a total of 418,077 shares of company stock valued at $31,659,652 over the last ninety days. Company insiders own 20.59% of the company’s stock.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Okta had a negative net margin of 31.43% and a negative return on equity of 44.83%. The business had revenue of $115.47 million during the quarter, compared to analyst estimates of $107.94 million. Equities analysts forecast that Okta Inc will post -1.38 EPS for the current year.
OKTA has been the subject of several recent analyst reports. SunTrust Banks lowered shares of Okta from a “buy” rating to a “hold” rating and raised their price objective for the stock from $74.00 to $90.00 in a report on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on shares of Okta in a report on Monday, February 4th. They set an “equal weight” rating and a $85.00 price objective for the company. Piper Jaffray Companies initiated coverage on shares of Okta in a report on Friday, January 11th. They set an “overweight” rating and a $80.00 price objective for the company. Robert W. Baird reissued a “hold” rating and set a $65.00 price objective on shares of Okta in a report on Thursday, December 6th. Finally, DA Davidson initiated coverage on shares of Okta in a report on Tuesday, December 18th. They set a “neutral” rating and a $62.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $79.82.
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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 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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