Capital World Investors Takes $11.40 Million Position in Okta, Inc. (OKTA)
Capital World Investors bought a new stake in Okta, Inc. (NASDAQ:OKTA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500,000 shares of the company’s stock, valued at approximately $11,400,000. Capital World Investors owned approximately 0.52% of Okta at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Glynn Capital Management LLC purchased a new position in Okta in the second quarter valued at about $45,855,000. FMR LLC purchased a new position in Okta in the second quarter valued at about $23,135,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Okta in the second quarter valued at about $23,054,000. JPMorgan Chase & Co. purchased a new position in Okta in the second quarter valued at about $21,855,000. Finally, Vanguard Group Inc. purchased a new position in Okta in the second quarter valued at about $21,749,000. Hedge funds and other institutional investors own 13.00% of the company’s stock.
In other Okta 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 value of $8,109,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Okta, Inc. (NASDAQ OKTA) opened at 28.56 on Wednesday. The firm has a 50-day moving average price of $27.80 and a 200-day moving average price of $25.03. Okta, Inc. has a 52 week low of $21.52 and a 52 week high of $33.64. The stock’s market cap is $2.73 billion.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.03). The business had revenue of $61.00 million during the quarter, compared to analysts’ expectations of $55.90 million. The business’s quarterly revenue was up 63.1% on a year-over-year basis. On average, equities research analysts predict that Okta, Inc. will post ($0.96) EPS for the current year.
A number of research analysts have commented on OKTA shares. Zacks Investment Research downgraded Okta from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. KeyCorp restated a “buy” rating and issued a $35.00 target price on shares of Okta in a research note on Friday, September 8th. Canaccord Genuity restated a “hold” rating and issued a $27.00 target price on shares of Okta in a research note on Wednesday, August 30th. William Blair started coverage on Okta in a research note on Wednesday, October 4th. They issued an “outperform” rating on the stock. Finally, Oppenheimer Holdings, Inc. started coverage on Okta in a research note on Tuesday. They issued an “outperform” rating and a $32.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.17.
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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