SG Americas Securities LLC Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

SG Americas Securities LLC grew its position in Okta, Inc. (NASDAQ:OKTAGet Rating) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,571 shares of the company’s stock after buying an additional 5,468 shares during the period. SG Americas Securities LLC’s holdings in Okta were worth $2,351,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Aquire Wealth Advisors LLC purchased a new stake in shares of Okta in the 4th quarter valued at approximately $45,000. Addison Advisors LLC lifted its holdings in shares of Okta by 121.4% in the 1st quarter. Addison Advisors LLC now owns 228 shares of the company’s stock worth $34,000 after acquiring an additional 125 shares during the last quarter. Covestor Ltd acquired a new position in shares of Okta in the 4th quarter worth approximately $62,000. CWM LLC acquired a new position in shares of Okta in the 4th quarter worth approximately $68,000. Finally, UMB Bank N A MO acquired a new position in shares of Okta in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 76.18% of the company’s stock.

Insiders Place Their Bets

In other Okta news, insider Ledger Susan St. sold 2,660 shares of Okta stock in a transaction dated Thursday, June 16th. The shares were 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 $2,930,180.77. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Ledger Susan St. sold 2,660 shares of Okta stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total transaction of $212,720.20. Following the completion of the sale, the insider now directly owns 36,641 shares in the company, valued at $2,930,180.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jonathan T. Runyan sold 2,933 shares of Okta stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $79.97, for a total transaction of $234,552.01. Following the sale, the general counsel now owns 587 shares of the company’s stock, valued at $46,942.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,542 shares of company stock worth $1,328,627. Insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OKTA shares. Stephens started coverage on shares of Okta in a report on Friday, June 3rd. They issued a “buy” rating and a $145.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Okta to $150.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. KeyCorp reduced their target price on shares of Okta from $225.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Oppenheimer reduced their target price on shares of Okta from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, June 3rd. Finally, BMO Capital Markets increased their target price on shares of Okta from $108.00 to $125.00 in a report on Friday, June 3rd. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.44.

Okta Stock Down 2.3 %

Shares of NASDAQ OKTA opened at $101.95 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.40. Okta, Inc. has a 52 week low of $77.01 and a 52 week high of $276.30. The firm has a 50-day moving average price of $91.57 and a 200 day moving average price of $137.15. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of -15.95 and a beta of 1.06.

Okta (NASDAQ:OKTAGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported ($1.36) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $414.94 million during the quarter, compared to analysts’ expectations of $388.77 million. During the same quarter last year, the business earned ($0.59) earnings per share. The business’s revenue for the quarter was up 65.3% compared to the same quarter last year. Equities research analysts anticipate that Okta, Inc. will post -5.56 EPS for the current fiscal year.

About Okta

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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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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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