M Holdings Securities Inc. Buys Shares of 3,174 Okta, Inc. (NASDAQ:OKTA)

M Holdings Securities Inc. purchased a new position in shares of Okta, Inc. (NASDAQ:OKTAGet Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,174 shares of the company’s stock, valued at approximately $479,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank N A MO grew its holdings in Okta by 24.0% during the 1st quarter. UMB Bank N A MO now owns 413 shares of the company’s stock worth $63,000 after acquiring an additional 80 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Okta by 0.8% in the fourth quarter. Impax Asset Management Group plc now owns 9,769 shares of the company’s stock worth $2,189,000 after purchasing an additional 82 shares during the last quarter. Coastal Bridge Advisors LLC increased its holdings in Okta by 1.6% in the fourth quarter. Coastal Bridge Advisors LLC now owns 5,582 shares of the company’s stock valued at $1,251,000 after purchasing an additional 90 shares during the period. Louisiana State Employees Retirement System raised its position in Okta by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock worth $1,144,000 after purchasing an additional 100 shares during the last quarter. Finally, Siemens Fonds Invest GmbH lifted its holdings in Okta by 4.1% during the 1st quarter. Siemens Fonds Invest GmbH now owns 2,912 shares of the company’s stock worth $440,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 75.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OKTA shares. Wolfe Research decreased their price target on Okta from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Canaccord Genuity Group downgraded shares of Okta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $85.00 in a research report on Thursday, September 1st. Robert W. Baird reduced their price objective on shares of Okta from $195.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, June 3rd. Sanford C. Bernstein started coverage on shares of Okta in a research note on Tuesday, July 19th. They set a “market perform” rating and a $94.00 target price for the company. Finally, Royal Bank of Canada cut their price target on shares of Okta from $260.00 to $145.00 in a research report on Tuesday, May 31st. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.73.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $59.01 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.38 billion, a PE ratio of -10.00 and a beta of 1.08. The stock’s fifty day simple moving average is $90.06 and its two-hundred day simple moving average is $109.48. Okta, Inc. has a 1-year low of $58.12 and a 1-year high of $272.27.

Okta (NASDAQ:OKTAGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The company reported ($1.19) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.22. The business had revenue of $435.38 million for the quarter, compared to analysts’ expectations of $430.66 million. Okta had a negative net margin of 57.21% and a negative return on equity of 13.18%. The firm’s revenue for the quarter was up 43.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.35) earnings per share. As a group, analysts forecast that Okta, Inc. will post -5.18 EPS for the current fiscal year.

Okta 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.

Further Reading

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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