Allspring Global Investments Holdings LLC Decreases Position in Okta, Inc. (NASDAQ:OKTA)

Allspring Global Investments Holdings LLC decreased its stake in Okta, Inc. (NASDAQ:OKTAFree Report) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,768 shares of the company’s stock after selling 90,349 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Okta worth $25,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oak Thistle LLC purchased a new position in Okta in the first quarter valued at about $785,000. Diversified Trust Co boosted its holdings in Okta by 1.9% in the first quarter. Diversified Trust Co now owns 19,990 shares of the company’s stock valued at $2,091,000 after purchasing an additional 377 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its holdings in Okta by 5.7% in the first quarter. Blue Zone Wealth Advisors LLC now owns 5,433 shares of the company’s stock valued at $568,000 after purchasing an additional 291 shares during the last quarter. MCF Advisors LLC purchased a new position in Okta in the first quarter valued at about $318,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Okta by 25.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,233 shares of the company’s stock valued at $966,000 after purchasing an additional 1,878 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKTA. Mizuho upped their price objective on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research note on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research note on Thursday, May 30th. Susquehanna cut their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.58.

Check Out Our Latest Report on Okta

Okta Stock Performance

Shares of NASDAQ OKTA opened at $96.35 on Friday. The stock has a fifty day moving average price of $93.52 and a two-hundred day moving average price of $93.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $16.21 billion, a P/E ratio of -57.69 and a beta of 1.03. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTAGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.27. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. Research analysts forecast that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 25,810 shares of company stock valued at $2,294,433 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Okta Profile

(Free Report)

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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