Okta, Inc. (NASDAQ:OKTA) Stock Holdings Raised by Diversified Trust Co

Diversified Trust Co increased its position in Okta, Inc. (NASDAQ:OKTA) by 18.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,732 shares of the company’s stock after purchasing an additional 3,742 shares during the period. Diversified Trust Co’s holdings in Okta were worth $2,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Okta by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after buying an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Okta by 19.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after buying an additional 556 shares during the period. Los Angeles Capital Management LLC lifted its stake in Okta by 282.5% in the first quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after buying an additional 183,643 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Okta by 28.6% during the first quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after acquiring an additional 2,925 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Okta by 639.6% during the first quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock worth $7,417,000 after acquiring an additional 61,309 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the completion of the transaction, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Insiders have sold 362,256 shares of company stock worth $34,154,578 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research note on Monday, June 17th. Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and raised their target price for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. BMO Capital Markets reduced their price target on shares of Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a research note on Monday, June 3rd. Mizuho upped their price target on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Finally, Susquehanna reduced their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.58.

Okta Price Performance

NASDAQ OKTA traded down $0.14 during trading hours on Wednesday, reaching $92.68. 57,731 shares of the company’s stock were exchanged, compared to its average volume of 1,816,424. The firm has a fifty day moving average of $91.49 and a 200-day moving average of $94.62. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The stock has a market cap of $15.59 billion, a PE ratio of -55.58 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The company had revenue of $617.00 million for the quarter, compared to analyst estimates of $604.33 million. On average, equities research analysts predict that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

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.