Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. grew its position in Okta, Inc. (NASDAQ:OKTA) by 149.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,900 shares of the company’s stock after acquiring an additional 20,900 shares during the quarter. Cullinan Associates Inc.’s holdings in Okta were worth $2,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC boosted its stake in Okta by 4.7% during the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares during the last quarter. National Bank of Canada FI boosted its position in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares in the last quarter. CWM LLC grew its stake in Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Up 1.1 %

Shares of NASDAQ OKTA traded up $0.81 during mid-day trading on Friday, hitting $72.96. The company had a trading volume of 112,717 shares, compared to its average volume of 1,932,894. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a market capitalization of $12.39 billion, a PE ratio of -85.89, a price-to-earnings-growth ratio of 17.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The business’s 50-day simple moving average is $78.78 and its 200 day simple moving average is $88.51.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. On average, analysts predict that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,793 shares of company stock valued at $35,759,000. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of analyst reports. DA Davidson dropped their price target on Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. BTIG Research cut their target price on Okta from $128.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Citigroup lowered their price target on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Susquehanna cut their price objective on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, UBS Group decreased their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.96.

Okta Company 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.