Darwin Advisors LLC reduced its stake in Okta Inc (NASDAQ:OKTA) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,529 shares of the company’s stock after selling 724 shares during the period. Darwin Advisors LLC’s holdings in Okta were worth $2,893,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of OKTA. Hound Partners LLC bought a new position in shares of Okta in the 2nd quarter worth $1,844,000. Vanguard Group Inc. boosted its position in shares of Okta by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company’s stock worth $2,217,020,000 after purchasing an additional 721,025 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Okta in the 1st quarter worth $67,392,000. Morgan Stanley boosted its position in shares of Okta by 3.7% in the 1st quarter. Morgan Stanley now owns 11,011,526 shares of the company’s stock worth $1,346,269,000 after purchasing an additional 395,715 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in Okta during the 1st quarter worth $5,493,000. Institutional investors and hedge funds own 77.40% of the company’s stock.
In related news, CFO William E. Losch sold 30,000 shares of Okta stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $244.44, for a total transaction of $7,333,200.00. Following the completion of the transaction, the chief financial officer now owns 35,974 shares in the company, valued at $8,793,484.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin A. Horowitz sold 50,000 shares of Okta stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $244.77, for a total value of $12,238,500.00. The disclosure for this sale can be found here. Insiders have sold 405,377 shares of company stock valued at $89,068,004 in the last quarter. 12.02% of the stock is currently owned by corporate insiders.
Okta (NASDAQ:OKTA) last released its earnings results on Thursday, August 27th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The business had revenue of $200.45 million for the quarter, compared to the consensus estimate of $186.37 million. Okta had a negative return on equity of 35.07% and a negative net margin of 32.93%. Okta’s quarterly revenue was up 42.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. As a group, equities analysts predict that Okta Inc will post -1.48 earnings per share for the current fiscal year.
OKTA has been the topic of several research analyst reports. DA Davidson raised their price objective on Okta from $210.00 to $250.00 in a research note on Friday, August 28th. Mizuho raised their price objective on Okta from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets raised their price objective on Okta from $228.00 to $260.00 in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective on Okta from $192.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. Finally, Truist raised their price objective on Okta from $200.00 to $240.00 in a research note on Friday, August 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $208.60.
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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