Mackenzie Financial Corp trimmed its position in Okta, Inc. (NASDAQ:OKTA – Get Rating) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,231 shares of the company’s stock after selling 338 shares during the period. Mackenzie Financial Corp’s holdings in Okta were worth $834,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in OKTA. Steward Partners Investment Advisory LLC grew its position in shares of Okta by 22.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 882 shares of the company’s stock worth $133,000 after buying an additional 163 shares during the period. Arizona State Retirement System boosted its stake in Okta by 20.7% during the first quarter. Arizona State Retirement System now owns 41,090 shares of the company’s stock worth $6,203,000 after acquiring an additional 7,041 shares in the last quarter. abrdn plc grew its holdings in Okta by 28.9% in the first quarter. abrdn plc now owns 25,042 shares of the company’s stock worth $3,765,000 after purchasing an additional 5,609 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Okta by 148.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 16,062 shares of the company’s stock worth $2,425,000 after purchasing an additional 9,603 shares during the period. Finally, Stephens Inc. AR lifted its holdings in shares of Okta by 24.8% during the first quarter. Stephens Inc. AR now owns 3,287 shares of the company’s stock valued at $496,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 75.47% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on OKTA. Citigroup cut their price target on Okta from $98.00 to $65.00 in a research note on Sunday, November 13th. Stephens reduced their price target on Okta from $80.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, November 11th. Guggenheim upgraded shares of Okta from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, November 7th. They noted that the move was a valuation call. Oppenheimer reduced their price objective on shares of Okta from $140.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Finally, JMP Securities dropped their target price on shares of Okta from $145.00 to $105.00 and set a “market outperform” rating on the stock in a research note on Monday, November 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.21.
Okta Stock Up 5.8 %
Shares of OKTA stock opened at $50.74 on Thursday. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of -8.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.38 and a quick ratio of 2.38. The company’s fifty day moving average price is $53.61 and its 200-day moving average price is $77.69. Okta, Inc. has a one year low of $44.12 and a one year high of $244.18.
Okta (NASDAQ:OKTA – Get Rating) last announced its quarterly earnings data on Wednesday, August 31st. The company reported ($1.19) EPS for the quarter, beating the consensus estimate of ($1.41) by $0.22. The business had revenue of $435.38 million for the quarter, compared to the consensus estimate of $430.66 million. Okta had a negative return on equity of 13.18% and a negative net margin of 57.21%. The business’s revenue was up 43.6% on a year-over-year basis. During the same period in the previous year, the business earned ($1.35) earnings per share. Sell-side analysts expect that Okta, Inc. will post -5.12 EPS for the current fiscal year.
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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