EFG Asset Management Americas Corp. Raises Stock Holdings in Okta Inc (NASDAQ:OKTA)

EFG Asset Management Americas Corp. boosted its holdings in shares of Okta Inc (NASDAQ:OKTA) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,103 shares of the company’s stock after purchasing an additional 1,297 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Okta were worth $1,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OKTA. Lindbrook Capital LLC boosted its position in Okta by 76.9% during the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Okta by 122.4% during the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after acquiring an additional 131 shares during the last quarter. Focused Wealth Management Inc acquired a new position in shares of Okta during the second quarter valued at approximately $30,000. Truewealth LLC acquired a new position in shares of Okta during the second quarter valued at approximately $33,000. Finally, CSat Investment Advisory L.P. acquired a new position in shares of Okta during the second quarter valued at approximately $34,000. Institutional investors own 69.34% of the company’s stock.

In other news, CFO William E. Losch sold 21,108 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.73, for a total transaction of $2,168,424.84. Following the completion of the transaction, the chief financial officer now directly owns 12,572 shares in the company, valued at $1,291,521.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 1,773 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.57, for a total value of $181,856.61. Following the transaction, the chief executive officer now owns 3,531 shares of the company’s stock, valued at $362,174.67. The disclosure for this sale can be found here. Insiders sold 264,416 shares of company stock valued at $30,227,450 over the last quarter. 14.69% of the stock is currently owned by company insiders.

A number of equities analysts have commented on OKTA shares. Morgan Stanley increased their target price on Okta from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. They noted that the move was a valuation call. Piper Jaffray Companies started coverage on Okta in a report on Friday. They set an “overweight” rating and a $135.00 target price for the company. JPMorgan Chase & Co. increased their target price on Okta from $127.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC increased their target price on Okta to $154.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, DA Davidson increased their target price on Okta from $114.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Okta presently has a consensus rating of “Buy” and a consensus price target of $130.26.

Shares of NASDAQ:OKTA traded up $1.22 during midday trading on Tuesday, hitting $112.12. The company had a trading volume of 14,666 shares, compared to its average volume of 2,175,505. Okta Inc has a twelve month low of $41.88 and a twelve month high of $141.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of -109.37 and a beta of 1.01. The business’s 50-day simple moving average is $107.89 and its 200-day simple moving average is $118.25.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). The firm had revenue of $140.48 million during the quarter, compared to analysts’ expectations of $131.19 million. Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The business’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts forecast that Okta Inc will post -1.42 EPS for the current year.

Okta 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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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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