KBC Group NV bought a new stake in Okta Inc (NASDAQ:OKTA) during the 2nd quarter, Holdings Channel reports. The fund bought 550 shares of the company’s stock, valued at approximately $68,000.
Other large investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in shares of Okta by 76.9% during the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Okta by 122.4% during the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after purchasing an additional 131 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Okta during the second quarter worth about $30,000. Truewealth LLC acquired a new stake in shares of Okta during the second quarter worth about $33,000. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Okta during the second quarter worth about $47,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
OKTA stock traded up $1.70 during mid-day trading on Tuesday, reaching $132.20. The company had a trading volume of 16,028 shares, compared to its average volume of 1,382,159. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day moving average is $131.90. The company has a market capitalization of $14.90 billion, a P/E ratio of -129.25 and a beta of 1.01. Okta Inc has a 52 week low of $41.88 and a 52 week high of $141.85.
In other news, CEO Todd Mckinnon sold 250,000 shares of Okta stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $132.27, for a total transaction of $33,067,500.00. Following the completion of the transaction, the chief executive officer now directly owns 206,500 shares in the company, valued at approximately $27,313,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacques Frederic Kerrest sold 1,784 shares of Okta stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $131.52, for a total value of $234,631.68. Following the transaction, the insider now owns 1,664 shares of the company’s stock, valued at $218,849.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 546,604 shares of company stock valued at $70,714,556. Corporate insiders own 14.69% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub raised Okta from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. BMO Capital Markets assumed coverage on Okta in a research report on Thursday, August 1st. They set a “market perform” rating and a $155.00 price target on the stock. SunTrust Banks raised their price target on Okta to $110.00 and gave the stock a “hold” rating in a research report on Friday, May 31st. ValuEngine lowered Okta from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt lowered Okta from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $104.05.
Okta, Inc provides identity solutions 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; 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; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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