DNB Asset Management AS Has $2.32 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

DNB Asset Management AS grew its stake in Okta, Inc. (NASDAQ:OKTA) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,725 shares of the company’s stock after buying an additional 573 shares during the quarter. DNB Asset Management AS’s holdings in Okta were worth $2,315,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. City State Bank raised its position in Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Okta during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after purchasing an additional 131 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Okta in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,256 shares of company stock valued at $34,154,578. 7.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKTA. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Okta in a report on Monday, June 17th. Mizuho lifted their price objective on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. JPMorgan Chase & Co. boosted their price target on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Guggenheim reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Tuesday, June 25th. Finally, Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, May 29th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $105.58.

Okta Trading Up 1.1 %

NASDAQ:OKTA traded up $0.95 during trading hours on Tuesday, hitting $83.80. The company had a trading volume of 2,975,379 shares, compared to its average volume of 1,832,449. The company has a market capitalization of $14.10 billion, a PE ratio of -49.61 and a beta of 1.03. The stock has a 50-day moving average price of $91.73 and a 200 day moving average price of $94.43. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. On average, equities research analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

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.