Deer Management Co. LLC Has $89.84 Million Stock Position in Okta, Inc. (NASDAQ:OKTA)

Deer Management Co. LLC lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 959,683 shares of the company’s stock after selling 32,500 shares during the quarter. Okta comprises 18.5% of Deer Management Co. LLC’s investment portfolio, making the stock its 2nd biggest holding. Deer Management Co. LLC owned about 0.57% of Okta worth $89,836,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its holdings in Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after purchasing an additional 122 shares during the period. Caprock Group LLC grew its stake in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI grew its stake in shares of Okta by 11.0% in the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 142 shares in the last quarter. Finally, CWM LLC raised its stake in Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after buying an additional 147 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 1.3 %

Shares of OKTA stock opened at $74.86 on Thursday. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of -44.83, a PEG ratio of 42.19 and a beta of 1.01. The company’s fifty day simple moving average is $86.00 and its two-hundred day simple moving average is $92.88. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. As a group, analysts anticipate that Okta, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 3,280 shares of the business’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 legal 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 on Tuesday, July 2nd. The stock was sold at an average price of $95.64, for a total transaction of $313,699.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. The disclosure for this sale can be found here. Insiders have sold a total of 580,439 shares of company stock worth $50,396,157 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on OKTA. Jefferies Financial Group reduced their price objective on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday. DA Davidson decreased their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. Canaccord Genuity Group reduced their price objective on shares of Okta from $95.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.62.

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.