Quantbot Technologies LP Purchases Shares of 4,436 Okta, Inc. (OKTA)
Quantbot Technologies LP purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,436 shares of the company’s stock, valued at approximately $101,000.
Other large investors also recently bought and sold shares of the company. CI Investments Inc. acquired a new position in shares of Okta during the 2nd quarter worth $171,000. American Century Companies Inc. acquired a new position in shares of Okta during the 2nd quarter worth $201,000. Pacad Investment Ltd. acquired a new position in shares of Okta during the 2nd quarter worth $207,000. Wells Fargo & Company MN acquired a new position in shares of Okta during the 2nd quarter worth $242,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Okta during the 2nd quarter worth $271,000. 13.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Okta, Inc. (NASDAQ OKTA) opened at 27.99 on Monday. Okta, Inc. has a 52 week low of $21.52 and a 52 week high of $33.64. The firm’s market capitalization is $539.14 million. The company has a 50-day moving average of $27.61 and a 200-day moving average of $24.98.
Okta (NASDAQ:OKTA) last released its earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The company had revenue of $61.00 million during the quarter, compared to analysts’ expectations of $55.90 million. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, equities analysts forecast that Okta, Inc. will post ($0.96) earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on OKTA. KeyCorp reaffirmed a “buy” rating on shares of Okta in a research note on Friday, September 1st. Zacks Investment Research raised shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, September 20th. Canaccord Genuity increased their price objective on shares of Okta from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, September 8th. William Blair started coverage on shares of Okta in a research note on Wednesday, October 4th. They issued an “outperform” rating on the stock. Finally, Pacific Crest reissued an “outperform” rating and issued a $32.00 price objective on shares of Okta in a research note on Monday, June 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.20.
In related news, General Counsel Jonathan T. Runyan sold 300,000 shares of Okta stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $27.03, for a total transaction of $8,109,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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