Slow Capital Inc. Reduces Stock Position in Okta, Inc. (NASDAQ:OKTA)

Slow Capital Inc. reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,095 shares of the company’s stock after selling 503 shares during the period. Slow Capital Inc.’s holdings in Okta were worth $2,453,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Okta by 2.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,751 shares of the company’s stock worth $6,405,000 after buying an additional 1,733 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Okta by 7.0% during the fourth quarter. Mackenzie Financial Corp now owns 9,667 shares of the company’s stock valued at $875,000 after purchasing an additional 630 shares in the last quarter. Strs Ohio increased its stake in shares of Okta by 9.6% during the fourth quarter. Strs Ohio now owns 11,711 shares of the company’s stock valued at $1,060,000 after purchasing an additional 1,025 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Okta by 30.1% during the fourth quarter. Vontobel Holding Ltd. now owns 262,321 shares of the company’s stock valued at $23,748,000 after purchasing an additional 60,739 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Okta during the fourth quarter valued at approximately $1,617,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Down 0.3 %

Shares of OKTA stock traded down $0.31 during trading hours on Wednesday, reaching $94.70. 317,001 shares of the stock were exchanged, compared to its average volume of 2,006,040. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The company’s 50-day moving average price is $98.49 and its 200-day moving average price is $85.64.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Shibu Ninan sold 2,500 shares of the business’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 completion of the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at approximately $590,013.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the business’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 owns 6,042 shares of the company’s stock, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders sold a total of 11,779 shares of company stock valued at $1,205,990 in the last three months. Company insiders own 7.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKTA. Robert W. Baird raised their target price on shares of Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group raised their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Citigroup raised their target price on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. BMO Capital Markets lifted their price target on shares of Okta from $80.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada lifted their price target on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.39.

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.