AtonRa Partners Decreases Position in Okta, Inc. (NASDAQ:OKTA)

AtonRa Partners lowered its position in shares of Okta, Inc. (NASDAQ:OKTA) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,520 shares of the company’s stock after selling 442 shares during the quarter. AtonRa Partners’ holdings in Okta were worth $228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC purchased a new position in Okta in the 3rd quarter valued at $222,000. Commonwealth Equity Services LLC grew its stake in Okta by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,302 shares of the company’s stock valued at $2,307,000 after acquiring an additional 333 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Okta by 8.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,000 shares of the company’s stock valued at $2,934,000 after acquiring an additional 2,900 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Okta in the 3rd quarter worth approximately $223,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Okta by 9.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 91,807 shares of the company’s stock worth $7,483,000 after purchasing an additional 7,986 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In related news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction on 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 $646,252.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of Okta 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 $646,252.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock valued at $1,205,990 in the last ninety days. Insiders own 7.36% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA traded up $0.65 on Tuesday, hitting $93.81. 258,541 shares of the company’s stock were exchanged, compared to its average volume of 1,891,954. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $99.67 and its 200 day moving average is $86.37.

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

Analyst Ratings Changes

A number of brokerages recently commented on OKTA. JPMorgan Chase & Co. lifted their price objective on Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Okta in a research report on Friday, January 5th. Westpark Capital upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, February 29th. Oppenheimer increased their price target on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Susquehanna raised their target price on Okta from $70.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.39.

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.