KBC Group NV Has $2.40 Million Stake in Okta, Inc. (NASDAQ:OKTA)

KBC Group NV trimmed its position in Okta, Inc. (NASDAQ:OKTA) by 0.8% during the third quarter, HoldingsChannel.com reports. The firm owned 32,217 shares of the company’s stock after selling 267 shares during the quarter. KBC Group NV’s holdings in Okta were worth $2,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC lifted its stake in 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 acquiring an additional 129 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. CWM LLC increased its stake in Okta by 5.3% in the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after buying an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after buying an additional 182 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 1.1 %

Shares of NASDAQ:OKTA opened at $72.88 on Tuesday. The business’s 50 day simple moving average is $74.55 and its 200 day simple moving average is $85.96. Okta, Inc. has a 1 year low of $66.69 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. The company has a market capitalization of $12.38 billion, a P/E ratio of -86.76, a P/E/G ratio of 18.03 and a beta of 1.02.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts anticipate that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock worth $35,701,361 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKTA. Needham & Company LLC initiated coverage on Okta in a report on Thursday, October 17th. They issued a “buy” rating and a $100.00 price objective for the company. BMO Capital Markets raised their price target on Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 29th. Westpark Capital reiterated a “buy” rating and set a $140.00 price objective on shares of Okta in a research note on Thursday, August 29th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and decreased their target price for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group dropped their price target on shares of Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.90.

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.