BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Okta, Inc. (NASDAQ:OKTA) (2024)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 1,618.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,305 shares of the company's stock after purchasing an additional 11,589 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Okta were worth $1,287,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. City State Bank grew its stake in shares of Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company's stock valued at $27,000 after buying an additional 160 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Okta in the 4th quarter valued at approximately $29,000. Venturi Wealth Management LLC grew its position in shares of Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company's stock valued at $41,000 after buying an additional 131 shares during the last quarter. Principal Securities Inc. purchased a new position in Okta during the 4th quarter worth $48,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Okta in the 1st quarter worth $63,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. Susquehanna decreased their target price on shares of Okta from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Thursday, May 30th. Evercore ISI raised Okta from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Guggenheim reiterated a "buy" rating and issued a $130.00 price objective on shares of Okta in a research report on Tuesday, June 25th. BMO Capital Markets dropped their price target on Okta from $110.00 to $100.00 and set a "market perform" rating on the stock in a research note on Monday, June 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Okta in a research note on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $105.58.

Get Our Latest Stock Analysis on OKTA

Okta Trading Up 0.5 %

Shares of NASDAQ OKTA traded up $0.46 during mid-day trading on Thursday, hitting $93.25. The company's stock had a trading volume of 1,109,865 shares, compared to its average volume of 1,869,969. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company's fifty day simple moving average is $93.64 and its 200-day simple moving average is $93.39. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of -56.25 and a beta of 1.03.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.27. The business had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, sell-side analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 34,620 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $96.04, for a total transaction of $3,324,904.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 60,430 shares of company stock worth $5,619,337 in the last quarter. 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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