Assenagon Asset Management S.A. decreased its stake in shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) by 91.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,231 shares of the company’s stock after selling 53,386 shares during the period. Assenagon Asset Management S.A.’s holdings in Okta were worth $790,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OKTA. Quent Capital LLC acquired a new stake in shares of Okta during the 4th quarter worth $182,000. Natixis Advisors L.P. acquired a new stake in Okta during the fourth quarter worth about $2,440,000. Barton Investment Management increased its stake in Okta by 2.3% during the first quarter. Barton Investment Management now owns 190,481 shares of the company’s stock worth $28,755,000 after acquiring an additional 4,330 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Okta by 1.0% in the 4th quarter. MML Investors Services LLC now owns 28,809 shares of the company’s stock worth $6,458,000 after purchasing an additional 279 shares during the period. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Okta by 6.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 54,677 shares of the company’s stock valued at $12,250,000 after purchasing an additional 3,195 shares in the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.

Okta Stock Performance

OKTA stock opened at $94.02 on Monday. The stock’s 50 day simple moving average is $90.56 and its 200 day simple moving average is $140.65. Okta, Inc. has a 12-month low of $77.01 and a 12-month high of $276.30. The firm has a market cap of $14.83 billion, a P/E ratio of -14.71 and a beta of 1.06. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.40.

Okta (NASDAQ:OKTA – Get Rating) last issued its earnings results on Thursday, June 2nd. The company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.01. Okta had a negative net margin of 67.06% and a negative return on equity of 13.13%. The company had revenue of $414.94 million for the quarter, compared to analysts’ expectations of $388.77 million. During the same period in the prior year, the company earned ($0.59) earnings per share. The firm’s revenue was up 65.3% compared to the same quarter last year. As a group, equities research analysts predict that Okta, Inc. will post -5.56 EPS for the current year.

Insider Activity

In related news, insider Ledger Susan St. sold 2,660 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $79.97, for a total transaction of $212,720.20. Following the completion of the transaction, the insider now owns 36,641 shares in the company, valued at approximately $2,930,180.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CFO Brett Tighe sold 5,913 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $79.97, for a total value of $472,862.61. Following the sale, the chief financial officer now owns 31,189 shares in the company, valued at $2,494,184.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ledger Susan St. sold 2,660 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $79.97, for a total value of $212,720.20. Following the transaction, the insider now owns 36,641 shares of the company’s stock, valued at $2,930,180.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,542 shares of company stock valued at $1,328,627. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKTA has been the subject of a number of research analyst reports. Oppenheimer dropped their target price on shares of Okta from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, June 3rd. Wells Fargo & Company raised their target price on shares of Okta from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 3rd. Royal Bank of Canada decreased their price target on shares of Okta from $260.00 to $145.00 in a research report on Tuesday, May 31st. Piper Sandler cut their price objective on Okta from $150.00 to $130.00 in a research report on Wednesday, July 13th. Finally, Wolfe Research lowered their target price on Okta from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, June 3rd. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.04.

Okta Company Profile

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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 and services, 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 applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user’s identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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