Whale Rock Capital Management LLC Has $231.05 Million Position in Okta Inc (NASDAQ:OKTA)

Whale Rock Capital Management LLC raised its position in shares of Okta Inc (NASDAQ:OKTA) by 27.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,870,680 shares of the company’s stock after purchasing an additional 399,310 shares during the period. Okta accounts for approximately 4.0% of Whale Rock Capital Management LLC’s portfolio, making the stock its 6th largest holding. Whale Rock Capital Management LLC owned 1.64% of Okta worth $231,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKTA. Lindbrook Capital LLC boosted its holdings in shares of Okta by 76.9% in the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Okta by 122.4% in the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after acquiring an additional 131 shares during the period. Focused Wealth Management Inc bought a new position in shares of Okta in the second quarter worth $30,000. Truewealth LLC bought a new position in shares of Okta in the second quarter worth $33,000. Finally, CSat Investment Advisory L.P. bought a new position in shares of Okta in the second quarter worth $34,000. 69.12% of the stock is owned by institutional investors and hedge funds.

In other Okta news, CFO William E. Losch sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $136.79, for a total transaction of $2,735,800.00. Following the sale, the chief financial officer now owns 30,366 shares in the company, valued at $4,153,765.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan T. Runyan sold 707 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $102.57, for a total value of $72,516.99. Following the sale, the general counsel now owns 1,406 shares in the company, valued at approximately $144,213.42. The disclosure for this sale can be found here. Insiders sold 706,552 shares of company stock worth $90,758,570 in the last quarter. 14.69% of the stock is currently owned by company insiders.



Shares of OKTA stock traded down $2.73 on Tuesday, reaching $102.39. The company’s stock had a trading volume of 2,173,811 shares, compared to its average volume of 3,387,275. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.57. Okta Inc has a 12-month low of $41.88 and a 12-month high of $141.85. The company has a market capitalization of $12.26 billion, a P/E ratio of -99.41 and a beta of 1.06. The stock’s 50 day simple moving average is $122.63 and its 200-day simple moving average is $112.91.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.32). Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The company had revenue of $140.48 million for the quarter, compared to the consensus estimate of $131.19 million. During the same quarter last year, the business posted ($0.15) earnings per share. The firm’s revenue was up 48.5% compared to the same quarter last year. Research analysts expect that Okta Inc will post -1.4 EPS for the current year.

A number of equities analysts have recently commented on the company. Monness Crespi & Hardt lowered Okta from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Zacks Investment Research raised Okta from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th. Deutsche Bank raised their price target on Okta from $124.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $145.00 price target (up from $125.00) on shares of Okta in a report on Thursday, August 29th. Finally, Robert W. Baird set a $135.00 price target on Okta and gave the stock a “hold” rating in a report on Friday, September 13th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $128.67.

Okta Profile

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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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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