Marshall Wace LLP Raises Position in Okta, Inc. (NASDAQ:OKTA)

Marshall Wace LLP grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 117.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,273,700 shares of the company’s stock after purchasing an additional 1,227,890 shares during the period. Marshall Wace LLP owned approximately 1.35% of Okta worth $212,841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. City State Bank increased its position 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 acquiring an additional 160 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the period. First Command Advisory Services Inc. acquired a new position in shares of Okta in the 2nd quarter valued at $47,000. nVerses Capital LLC acquired a new position in shares of Okta in the 2nd quarter valued at $47,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Okta in the 1st quarter valued at $63,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OKTA. DA Davidson cut their price target on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets increased their price target on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Stifel Nicolaus cut their price target on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Thursday, August 29th. Finally, Robert W. Baird lowered their target price on shares of Okta from $108.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Hold” and an average price target of $105.14.

Okta Trading Up 0.6 %

OKTA opened at $76.18 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company’s 50 day simple moving average is $86.92 and its two-hundred day simple moving average is $93.25. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of -45.62, a price-to-earnings-growth ratio of 41.00 and a beta of 1.01.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Analysts expect that Okta, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 3,280 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $95.64, for a total transaction of $313,699.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jacques Frederic Kerrest sold 3,280 shares of Okta stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $95.64, for a total value of $313,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The disclosure for this sale can be found here. Insiders sold 347,411 shares of company stock worth $32,837,280 in the last 90 days. Insiders own 7.00% of the company’s stock.

About Okta

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.