Okta, Inc. $OKTA is Sellaronda Global Management LP’s 4th Largest Position

Sellaronda Global Management LP boosted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 47.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Okta makes up 11.0% of Sellaronda Global Management LP’s holdings, making the stock its 4th largest position. Sellaronda Global Management LP owned about 0.07% of Okta worth $12,496,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKTA. Smartleaf Asset Management LLC grew its stake in Okta by 12.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after acquiring an additional 92 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Okta by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after purchasing an additional 113 shares in the last quarter. Norden Group LLC grew its position in shares of Okta by 3.7% in the second quarter. Norden Group LLC now owns 3,260 shares of the company’s stock valued at $326,000 after purchasing an additional 116 shares during the period. Advisors Asset Management Inc. grew its position in shares of Okta by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock valued at $113,000 after purchasing an additional 120 shares during the period. Finally, Simon Quick Advisors LLC increased its stake in shares of Okta by 2.5% during the second quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock worth $511,000 after purchasing an additional 126 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OKTA shares. Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Robert W. Baird lowered their price target on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a research note on Monday, September 29th. DA Davidson reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday, September 26th. Barclays decreased their price objective on Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 18th. Finally, Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.50.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $85.26, for a total value of $112,372.68. Following the transaction, the insider owned 36,519 shares of the company’s stock, valued at $3,113,609.94. This represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is currently owned by company insiders.

Okta Price Performance

Okta stock opened at $80.56 on Friday. The firm has a 50 day simple moving average of $87.76 and a 200-day simple moving average of $95.41. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 94.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.84. Okta, Inc. has a 1-year low of $74.81 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

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.