GWM Advisors LLC lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 33.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,228 shares of the company’s stock after selling 1,635 shares during the period. GWM Advisors LLC’s holdings in Okta were worth $712,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Black Swift Group LLC purchased a new position in Okta during the fourth quarter valued at $25,000. Addison Advisors LLC bought a new stake in shares of Okta during the 4th quarter valued at $25,000. Eudaimonia Partners LLC bought a new stake in shares of Okta during the 3rd quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in shares of Okta during the 4th quarter valued at $28,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Okta during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 75.77% of the company’s stock.
Several brokerages have recently commented on OKTA. Canaccord Genuity upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Wednesday, March 10th. Morgan Stanley raised their price objective on shares of Okta from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Friday, January 8th. Oppenheimer restated an “outperform” rating and set a $295.00 price objective on shares of Okta in a research report on Thursday, February 11th. BMO Capital Markets decreased their price objective on shares of Okta from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, March 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Okta in a report on Thursday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Okta has a consensus rating of “Buy” and a consensus target price of $264.19.
Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $234.74 million during the quarter, compared to the consensus estimate of $221.99 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. As a group, equities research analysts predict that Okta, Inc. will post -1.31 earnings per share for the current fiscal year.
In related news, CAO Christopher K. Kramer sold 3,333 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $266.11, for a total transaction of $886,944.63. Following the completion of the sale, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at approximately $3,141,694.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 8,594 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $228.81, for a total value of $1,966,393.14. Insiders have sold a total of 46,601 shares of company stock valued at $10,632,694 over the last three months. Corporate insiders own 12.02% of the company’s stock.
Okta Company Profile
Okta, Inc provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.
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