Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 110,155 shares of the company’s stock, valued at approximately $8,680,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Okta as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Forum Financial Management LP acquired a new position in shares of Okta during the 4th quarter worth approximately $333,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Okta during the 4th quarter worth approximately $40,000. PharVision Advisers LLC bought a new stake in shares of Okta during the 4th quarter worth approximately $299,000. Woodline Partners LP bought a new stake in shares of Okta during the 4th quarter worth approximately $2,199,000. Finally, Vident Advisory LLC lifted its holdings in shares of Okta by 27.1% during the 4th quarter. Vident Advisory LLC now owns 111,463 shares of the company’s stock worth $8,783,000 after acquiring an additional 23,752 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Down 3.6%

NASDAQ:OKTA opened at $102.80 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of -293.71, a PEG ratio of 6.42 and a beta of 0.96. The firm has a fifty day simple moving average of $109.26 and a two-hundred day simple moving average of $96.84. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In related news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 over the last three months. 5.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKTA has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $135.00 price target (up previously from $110.00) on shares of Okta in a report on Friday, May 23rd. BMO Capital Markets set a $132.00 price target on shares of Okta and gave the stock a “market perform” rating in a report on Wednesday. Guggenheim cut their price target on shares of Okta from $140.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Susquehanna upped their price target on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.59.

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.