UBS Asset Management Americas Inc. Acquires 77,846 Shares of Okta, Inc. (NASDAQ:OKTA)

April 8th, 2021 - By Scott Moore - Comments Off

UBS Asset Management Americas Inc. boosted its holdings in Okta, Inc. (NASDAQ:OKTA) by 19.4% in the fourth quarter, HoldingsChannel reports. The firm owned 479,795 shares of the company’s stock after purchasing an additional 77,846 shares during the period. UBS Asset Management Americas Inc.’s holdings in Okta were worth $121,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Black Swift Group LLC bought a new position in shares of Okta during the 4th quarter worth about $25,000. Addison Advisors LLC acquired a new position in Okta during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in Okta in the fourth quarter worth approximately $28,000. Arkadios Wealth Advisors acquired a new stake in Okta in the fourth quarter valued at approximately $29,000. Finally, Prime Capital Investment Advisors LLC raised its position in shares of Okta by 157.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Shares of Okta stock opened at $222.56 on Thursday. The company’s fifty day simple moving average is $237.37 and its two-hundred day simple moving average is $242.69. Okta, Inc. has a 12-month low of $125.34 and a 12-month high of $294.00. The firm has a market cap of $29.20 billion, a PE ratio of -115.32 and a beta of 0.99. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 2.51.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, March 2nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $234.74 million for the quarter, compared to the consensus estimate of $221.99 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, sell-side analysts expect that Okta, Inc. will post -1.31 earnings per share for the current fiscal year.

A number of research firms recently weighed in on OKTA. Mizuho dropped their price target on shares of Okta from $305.00 to $255.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 10th. Piper Sandler cut their target price on Okta from $250.00 to $235.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 10th. Oppenheimer reiterated an “outperform” rating and set a $295.00 price target on shares of Okta in a report on Thursday, February 11th. BMO Capital Markets reduced their price objective on Okta from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, March 4th. Finally, KeyCorp raised their price objective on shares of Okta from $282.00 to $313.00 in a research report on Monday, December 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $261.32.

In other Okta news, CAO Christopher K. Kramer sold 940 shares of Okta stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $260.99, for a total value of $245,330.60. Following the completion of the transaction, the chief accounting officer now directly owns 6,089 shares of the company’s stock, valued at $1,589,168.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Race sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $251.89, for a total value of $12,594,500.00. Following the completion of the transaction, the insider now directly owns 81,559 shares in the company, valued at $20,543,896.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,208 shares of company stock worth $41,790,580. 12.02% of the stock is owned by insiders.

About Okta

Okta, Inc provides identity management platform for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.

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UBS Asset Management Americas Inc. Acquires 77,846 Shares of Okta, Inc. (NASDAQ:OKTA)