Healthcare of Ontario Pension Plan Trust Fund increased its position in Okta, Inc. (NASDAQ:OKTA) by 8,745.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,967 shares of the company’s stock after purchasing an additional 33,583 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Okta were worth $8,636,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Steadfast Capital Management LP bought a new position in shares of Okta in the 4th quarter valued at about $155,056,000. Berkshire Capital Holdings Inc. lifted its holdings in Okta by 1,488,700.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 148,880 shares of the company’s stock valued at $37,854,000 after buying an additional 148,870 shares during the period. Canada Pension Plan Investment Board boosted its stake in Okta by 628.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 167,793 shares of the company’s stock valued at $42,663,000 after acquiring an additional 144,770 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Okta during the 4th quarter worth $27,267,000. Finally, ProShare Advisors LLC raised its position in shares of Okta by 1,942.7% during the 4th quarter. ProShare Advisors LLC now owns 105,485 shares of the company’s stock valued at $26,821,000 after acquiring an additional 100,321 shares during the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. DA Davidson lifted their price objective on Okta from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. TheStreet cut Okta from a “c-” rating to a “d+” rating in a research note on Friday, March 19th. BMO Capital Markets cut their price target 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. Robert W. Baird decreased their price objective on shares of Okta from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, March 10th. Finally, JPMorgan Chase & Co. lowered shares of Okta from an “overweight” rating to a “neutral” rating and set a $258.00 target price on the stock. in a report on Wednesday, December 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $261.32.
NASDAQ:OKTA opened at $222.56 on Thursday. The company has a market cap of $29.20 billion, a P/E ratio of -115.32 and a beta of 0.99. Okta, Inc. has a twelve month low of $125.34 and a twelve month high of $294.00. The business has a 50 day moving average price of $237.37 and a two-hundred day moving average price of $242.69. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 2.51.
Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, March 2nd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $234.74 million during the quarter, compared to the consensus estimate of $221.99 million. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. As a group, analysts anticipate that Okta, Inc. will post -1.31 earnings per share for the current fiscal year.
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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