Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 4,707 Okta, Inc. (NASDAQ:OKTA)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Okta, Inc. (NASDAQ:OKTA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,707 shares of the company’s stock, valued at approximately $495,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Okta in the 4th quarter valued at $234,992,000. Ameriprise Financial Inc. raised its stake in shares of Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock valued at $139,693,000 after buying an additional 1,699,176 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after buying an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new position in shares of Okta in the 4th quarter valued at $105,592,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Down 0.1%

Okta stock opened at $98.53 on Wednesday. The company’s 50 day simple moving average is $109.12 and its 200 day simple moving average is $99.69. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 156.40, a PEG ratio of 4.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same quarter last year, the firm earned $0.65 EPS. Okta’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKTA. Wells Fargo & Company increased their price objective on shares of Okta from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 28th. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, May 28th. Loop Capital assumed coverage on shares of Okta in a research report on Monday, May 5th. They set a “buy” rating and a $140.00 target price for the company. KeyCorp increased their target price on shares of Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC increased their target price on shares of Okta from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.59.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 1,105 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $98.50, for a total transaction of $108,842.50. Following the sale, the insider now directly owns 25,884 shares in the company, valued at approximately $2,549,574. This trade represents a 4.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now owns 19,067 shares in the company, valued at $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,935 shares of company stock valued at $1,100,347 in the last 90 days. 5.68% of the stock is owned by insiders.

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.