11,175 Shares in Okta, Inc. (NASDAQ:OKTA) Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,175 shares of the company’s stock, valued at approximately $831,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lecap Asset Management Ltd. acquired a new position in Okta during the third quarter worth approximately $3,479,000. LB Partners LLC acquired a new stake in shares of Okta in the third quarter worth $1,115,000. Allspring Global Investments Holdings LLC increased its position in shares of Okta by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 232,432 shares of the company’s stock worth $17,279,000 after acquiring an additional 10,761 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Okta by 7.7% in the third quarter. Resonant Capital Advisors LLC now owns 3,978 shares of the company’s stock worth $296,000 after acquiring an additional 283 shares in the last quarter. Finally, Alta Wealth Advisors LLC acquired a new stake in shares of Okta in the third quarter worth $223,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Piper Sandler dropped their price objective on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. UBS Group dropped their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC began coverage on shares of Okta in a research note on Thursday, October 17th. They issued a “buy” rating and a $100.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.96.

Okta Stock Down 2.5 %

Shares of NASDAQ:OKTA opened at $72.16 on Thursday. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of -85.90, a price-to-earnings-growth ratio of 17.32 and a beta of 1.02. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company’s fifty day moving average is $79.70 and its two-hundred day moving average is $88.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Equities analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,795 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now owns 27,014 shares of the company’s stock, valued at $2,485,828.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,795 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the completion of the sale, the insider now directly owns 27,014 shares in the company, valued at approximately $2,485,828.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,793 shares of company stock valued at $35,759,000. Company insiders own 7.00% of the company’s stock.

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.