Washington Harbour Partners LP Has $4.48 Million Stake in Okta, Inc. (NASDAQ:OKTA)

Washington Harbour Partners LP raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,860 shares of the company’s stock after buying an additional 3,680 shares during the period. Okta comprises approximately 7.3% of Washington Harbour Partners LP’s investment portfolio, making the stock its 2nd biggest holding. Washington Harbour Partners LP’s holdings in Okta were worth $4,484,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its holdings in shares of Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after buying an additional 3,121,809 shares during the period. Sands Capital Management LLC increased its stake in shares of Okta by 42.3% during the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after purchasing an additional 2,486,456 shares during the period. Norges Bank acquired a new stake in Okta during the 4th quarter worth approximately $150,794,000. First Trust Advisors LP lifted its holdings in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after purchasing an additional 897,216 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Okta by 1,465.8% in the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after purchasing an additional 732,900 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 2.7 %

Okta stock traded down $2.56 during trading hours on Thursday, hitting $91.38. The stock had a trading volume of 1,167,192 shares, compared to its average volume of 1,819,435. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of -54.72 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $92.22 and its 200-day simple moving average is $94.23. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a report on Wednesday, May 29th. BMO Capital Markets dropped their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Okta in a research report on Monday, June 17th. UBS Group dropped their price target on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, Evercore ISI raised Okta from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.58.

Insiders Place Their Bets

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

Okta Profile

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.