TD Asset Management Inc Boosts Stock Position in Okta, Inc. (NASDAQ:OKTA)

TD Asset Management Inc lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,150 shares of the company’s stock after buying an additional 154 shares during the period. TD Asset Management Inc’s holdings in Okta were worth $1,699,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its stake in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after buying an additional 154 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Okta during the 1st quarter valued at about $27,000. Rossby Financial LCC bought a new position in Okta during the 1st quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. purchased a new position in Okta in the 4th quarter worth approximately $40,000. Finally, True Wealth Design LLC lifted its position in Okta by 237.4% in the fourth quarter. True Wealth Design LLC now owns 577 shares of the company’s stock valued at $45,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKTA. Loop Capital began coverage on shares of Okta in a report on Monday, May 5th. They issued a “buy” rating and a $140.00 target price on the stock. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the company a “market perform” rating in a research note on Wednesday, May 28th. Royal Bank Of Canada cut their target price on Okta from $143.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 28th. Finally, Mizuho lowered their price target on Okta from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.61.

Okta Trading Down 2.7%

Okta stock opened at $95.13 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $99.73 and its two-hundred day simple moving average is $102.49. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 151.00, a price-to-earnings-growth ratio of 4.59 and a beta of 0.80.

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

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares in the company, valued at $12,567,360. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the transaction, the chief executive officer owned 20,682 shares of the company’s stock, valued at approximately $1,970,994.60. The trade was a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,594 shares of company stock valued at $8,382,790. 5.68% of the stock is currently 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.