Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in Okta, Inc. (NASDAQ:OKTA) by 4.6% during the first quarter, HoldingsChannel reports. The firm owned 11,993 shares of the company’s stock after acquiring an additional 530 shares during the period. Maryland State Retirement & Pension System’s holdings in Okta were worth $1,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. City State Bank increased its holdings in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Okta during the fourth quarter worth $29,000. Principal Securities Inc. purchased a new stake in Okta in the fourth quarter valued at $48,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta in the 1st quarter valued at $63,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Okta in the 3rd quarter valued at $65,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 18,878 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 22,530 shares of company stock valued at $1,980,733. 7.00% of the stock is owned by company insiders.

Okta Stock Performance

OKTA stock traded up $1.81 on Friday, hitting $95.60. The company’s stock had a trading volume of 141,580 shares, compared to its average volume of 1,867,488. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of -56.16 and a beta of 1.03. The firm has a 50 day moving average of $93.43 and a two-hundred day moving average of $93.11. 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, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating 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 business had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $604.33 million. Equities analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OKTA. JPMorgan Chase & Co. raised their price objective on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, May 29th. Susquehanna decreased their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. UBS Group dropped their price objective on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.58.

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.