Skandinaviska Enskilda Banken AB publ Has $3.12 Million Position in Okta, Inc. (NASDAQ:OKTA)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 33,313 shares of the company’s stock after selling 438 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Okta were worth $3,117,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OKTA. Vanguard Group Inc. increased its position in shares of Okta by 0.8% in the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after purchasing an additional 128,906 shares during the period. Sands Capital Management LLC raised its position in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after buying an additional 2,486,456 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after acquiring an additional 897,216 shares in the last quarter. Eminence Capital LP boosted its position in shares of Okta by 19.4% during the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after acquiring an additional 310,918 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock valued at $126,955,000 after acquiring an additional 10,800 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA opened at $75.75 on Monday. The firm has a market capitalization of $12.74 billion, a P/E ratio of -45.36, a P/E/G ratio of 41.00 and a beta of 1.01. The firm’s 50-day moving average price is $87.37 and its 200-day moving average price is $93.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

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

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Scotiabank dropped their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and decreased their price target for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $105.14.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the transaction, the chief executive officer now owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Jacques Frederic Kerrest sold 2,100 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the transaction, the chief executive officer now owns 47,883 shares in the company, valued at $4,473,229.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 347,411 shares of company stock valued at $32,837,280. 7.00% of the stock is owned by company insiders.

Okta Company Profile

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.