Gilder Gagnon Howe & Co. LLC trimmed its position in shares of Okta Inc (NASDAQ:OKTA) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,614,474 shares of the company’s stock after selling 108,052 shares during the quarter. Okta accounts for approximately 2.5% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 5th largest holding. Gilder Gagnon Howe & Co. LLC’s holdings in Okta were worth $323,266,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OKTA. Vanguard Group Inc. boosted its holdings in Okta by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company’s stock worth $2,217,020,000 after acquiring an additional 721,025 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Okta in the first quarter worth approximately $67,392,000. Franklin Resources Inc. boosted its stake in Okta by 98.2% in the first quarter. Franklin Resources Inc. now owns 1,014,710 shares of the company’s stock worth $124,063,000 after buying an additional 502,817 shares in the last quarter. Morgan Stanley boosted its stake in Okta by 3.7% in the first quarter. Morgan Stanley now owns 11,011,526 shares of the company’s stock worth $1,346,269,000 after buying an additional 395,715 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in Okta in the first quarter worth approximately $5,493,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.
In other Okta news, insider Charles Race sold 50,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $178.77, for a total value of $8,938,500.00. Following the completion of the transaction, the insider now owns 65,401 shares in the company, valued at $11,691,736.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacques Frederic Kerrest sold 200 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $210.10, for a total value of $42,020.00. Following the completion of the transaction, the insider now owns 7,542 shares of the company’s stock, valued at approximately $1,584,574.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,896 shares of company stock valued at $101,675,899. 12.02% of the stock is owned by corporate insiders.
OKTA traded down $5.34 during trading on Friday, reaching $203.44. The stock had a trading volume of 2,312,049 shares, compared to its average volume of 1,836,498. The stock’s 50 day moving average is $209.84 and its two-hundred day moving average is $172.29. The company has a current ratio of 5.07, a quick ratio of 2.86 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $26.06 billion, a price-to-earnings ratio of -107.07 and a beta of 0.96. Okta Inc has a one year low of $88.66 and a one year high of $231.29.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. The business had revenue of $200.45 million during the quarter, compared to the consensus estimate of $186.37 million. Okta had a negative return on equity of 35.07% and a negative net margin of 32.93%. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Okta Inc will post -1.48 earnings per share for the current year.
Several analysts have issued reports on the company. Goldman Sachs Group upped their target price on Okta from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Needham & Company LLC began coverage on Okta in a research note on Friday, May 29th. They set a “hold” rating for the company. Royal Bank of Canada reissued a “buy” rating on shares of Okta in a research note on Sunday, August 23rd. Robert W. Baird reissued a “hold” rating on shares of Okta in a research note on Friday, August 28th. Finally, Mizuho increased their price objective on Okta from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $203.75.
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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