Rakuten Securities Inc. Takes $372,000 Position in Okta, Inc. (NASDAQ:OKTA)

Rakuten Securities Inc. purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,109 shares of the company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Okta by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock valued at $1,245,564,000 after buying an additional 123,216 shares during the period. Sands Capital Management LLC lifted its holdings in shares of Okta by 2.4% during the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after buying an additional 136,267 shares during the period. Cerity Partners LLC increased its stake in shares of Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Okta by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 2,154,575 shares of the company’s stock worth $185,547,000 after purchasing an additional 78,366 shares in the last quarter. Finally, Eminence Capital LP increased its stake in shares of Okta by 7.7% in the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock worth $130,392,000 after purchasing an additional 113,994 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKTA. Canaccord Genuity Group upped their price objective on Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Citigroup increased their price target on Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. increased their price target on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. The Goldman Sachs Group increased their price target on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Thursday, February 29th. Twenty equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average target price of $100.39.

Okta Trading Down 0.5 %

NASDAQ OKTA traded down $0.51 during trading on Wednesday, hitting $94.50. The stock had a trading volume of 326,888 shares, compared to its average volume of 2,006,271. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of -43.64 and a beta of 1.00. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The stock has a 50 day simple moving average of $98.49 and a 200 day simple moving average of $85.64.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.35. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Sell-side analysts predict that Okta, Inc. will post -1.51 earnings per share for the current year.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Shibu Ninan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% 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.