Swedbank AB Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Swedbank AB increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 80,011 shares of the company’s stock after buying an additional 609 shares during the quarter. Swedbank AB’s holdings in Okta were worth $5,948,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKTA. Caprock Group LLC raised its stake in shares of Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI lifted its holdings in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. CWM LLC increased its stake in shares of Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after purchasing an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 475,789 shares of company stock worth $35,701,361. Company insiders own 7.00% of the company’s stock.

Okta Trading Down 0.5 %

Shares of OKTA stock opened at $76.42 on Thursday. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50. The company has a 50 day moving average price of $74.82 and a 200 day moving average price of $85.02. The stock has a market capitalization of $12.98 billion, a P/E ratio of -90.98, a price-to-earnings-growth ratio of 18.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Equities research analysts predict that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. UBS Group cut their price objective on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BTIG Research dropped their target price on shares of Okta from $128.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. The Goldman Sachs Group cut their price objective on shares of Okta from $113.00 to $97.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Mizuho lowered their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta has a consensus rating of “Hold” and an average target price of $98.30.

Okta Profile

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.