Swiss National Bank Decreases Stake in Okta, Inc. (NASDAQ:OKTA)

Swiss National Bank reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 473,300 shares of the company’s stock after selling 16,800 shares during the period. Swiss National Bank’s holdings in Okta were worth $49,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City State Bank lifted its stake in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Okta during the fourth quarter worth about $29,000. Venturi Wealth Management LLC increased its position in Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares during the last quarter. Principal Securities Inc. acquired a new stake in Okta during the fourth quarter worth about $48,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Okta during the first quarter worth about $63,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKTA. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Okta in a research report on Monday, June 17th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. Finally, Susquehanna dropped their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Okta has a consensus rating of “Hold” and an average price target of $105.58.

Okta Stock Up 2.0 %

Okta stock traded up $1.90 during trading on Monday, reaching $97.98. The stock had a trading volume of 205,699 shares, compared to its average volume of 1,855,562. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The business has a 50 day moving average price of $93.58 and a 200 day moving average price of $93.47. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The stock has a market cap of $16.48 billion, a PE ratio of -57.53 and a beta of 1.03.

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

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 60,430 shares of company stock worth $5,619,337 over the last 90 days. 7.00% of the stock is owned by insiders.

Okta 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.