Parametric Portfolio Associates LLC Boosts Holdings in Okta Inc (NASDAQ:OKTA)

Parametric Portfolio Associates LLC boosted its position in shares of Okta Inc (NASDAQ:OKTA) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,976 shares of the company’s stock after buying an additional 6,278 shares during the period. Parametric Portfolio Associates LLC’s holdings in Okta were worth $10,753,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OKTA. Ffcm LLC purchased a new stake in Okta during the 4th quarter worth approximately $36,000. Optimum Investment Advisors purchased a new stake in Okta during the 1st quarter worth approximately $50,000. Penserra Capital Management LLC purchased a new stake in Okta during the 4th quarter worth approximately $81,000. Berman Capital Advisors LLC increased its stake in Okta by 1,217.6% during the 1st quarter. Berman Capital Advisors LLC now owns 1,199 shares of the company’s stock worth $98,000 after buying an additional 1,108 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new stake in Okta during the 4th quarter worth approximately $99,000. Institutional investors own 79.23% of the company’s stock.

In related news, insider Charles Race sold 3,176 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $82.31, for a total value of $261,416.56. Following the transaction, the insider now directly owns 8,861 shares in the company, valued at $729,348.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacques Frederic Kerrest sold 1,784 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $131.52, for a total value of $234,631.68. Following the completion of the transaction, the insider now owns 1,664 shares in the company, valued at $218,849.28. The disclosure for this sale can be found here. Insiders sold 602,246 shares of company stock worth $52,402,328 over the last quarter. 14.69% of the stock is currently owned by insiders.

Several research firms have commented on OKTA. Canaccord Genuity boosted their price objective on Okta from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and set a $137.00 price objective (up from $105.00) on shares of Okta in a research note on Friday, May 31st. Oppenheimer boosted their price objective on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho initiated coverage on Okta in a research note on Tuesday, March 26th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, Monness Crespi & Hardt lowered Okta from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $96.00.

OKTA stock opened at $129.61 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $14.54 billion, a PE ratio of -125.83 and a beta of 1.08. Okta Inc has a 1 year low of $41.88 and a 1 year high of $133.86.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. The business had revenue of $125.20 million during the quarter, compared to analyst estimates of $116.83 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The business’s revenue was up 49.8% compared to the same quarter last year. Equities research analysts predict that Okta Inc will post -1.35 EPS for the current fiscal year.

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Okta Company Profile

Okta, Inc provides identity solutions 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; 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; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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