Wolff Wiese Magana LLC Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Wolff Wiese Magana LLC raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 167.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 246 shares of the company’s stock after buying an additional 154 shares during the period. Wolff Wiese Magana LLC’s holdings in Okta were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Marshall Wace LLP raised its stake in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after buying an additional 938,509 shares during the last quarter. Norges Bank purchased a new position in shares of Okta during the 4th quarter valued at about $234,992,000. Geode Capital Management LLC raised its stake in shares of Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after buying an additional 135,110 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after buying an additional 1,572,786 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 0.4%

Shares of Okta stock opened at $99.42 on Friday. The stock has a market cap of $17.41 billion, a P/E ratio of 157.81, a P/E/G ratio of 4.81 and a beta of 0.84. The stock’s 50 day simple moving average is $109.19 and its 200-day simple moving average is $99.49. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. Analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 1,105 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $98.50, for a total value of $108,842.50. Following the transaction, the insider now directly owns 25,884 shares in the company, valued at approximately $2,549,574. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,354 shares of company stock worth $1,042,078 in the last ninety days. Insiders own 5.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stephens reiterated an “equal weight” rating and set a $127.00 price objective on shares of Okta in a research note on Tuesday, May 27th. DA Davidson cut their price target on Okta from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Royal Bank Of Canada cut their price target on Okta from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Robert W. Baird lifted their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $135.00 price target (up previously from $110.00) on shares of Okta in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.59.

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.