Profund Advisors LLC Has $3.19 Million Position in Okta Inc (NASDAQ:OKTA)

Profund Advisors LLC lowered its position in Okta Inc (NASDAQ:OKTA) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,688 shares of the company’s stock after selling 3,616 shares during the quarter. Profund Advisors LLC’s holdings in Okta were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in OKTA. Russell Investments Group Ltd. increased its stake in shares of Okta by 469.4% in the third quarter. Russell Investments Group Ltd. now owns 8,695 shares of the company’s stock valued at $851,000 after buying an additional 7,168 shares during the period. State Street Corp increased its position in Okta by 6.6% during the 3rd quarter. State Street Corp now owns 2,194,216 shares of the company’s stock valued at $216,043,000 after purchasing an additional 136,687 shares during the period. Carnegie Capital Asset Management LLC increased its position in Okta by 40.1% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 32,285 shares of the company’s stock valued at $3,179,000 after purchasing an additional 9,235 shares during the period. Pictet Asset Management Ltd. increased its position in Okta by 2.2% during the 3rd quarter. Pictet Asset Management Ltd. now owns 36,700 shares of the company’s stock valued at $3,613,000 after purchasing an additional 800 shares during the period. Finally, California State Teachers Retirement System increased its position in Okta by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 169,893 shares of the company’s stock valued at $16,728,000 after purchasing an additional 1,960 shares during the period. 73.90% of the stock is owned by institutional investors.

A number of analysts have weighed in on OKTA shares. Robert W. Baird increased their target price on shares of Okta from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. SunTrust Banks increased their target price on shares of Okta from $134.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Canaccord Genuity increased their target price on shares of Okta from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Zacks Investment Research downgraded shares of Okta from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, Goldman Sachs Group increased their target price on shares of Okta from $144.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $142.74.

In other Okta news, Director Benjamin A. Horowitz sold 37,878 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $111.48, for a total transaction of $4,222,639.44. Following the transaction, the director now directly owns 15,735 shares in the company, valued at approximately $1,754,137.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William E. Losch sold 30,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $131.78, for a total value of $3,953,400.00. Following the transaction, the chief financial officer now owns 42,562 shares in the company, valued at $5,608,820.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,849 shares of company stock worth $20,398,915. 14.69% of the stock is owned by company insiders.

Shares of OKTA traded up $5.53 during trading hours on Thursday, reaching $123.30. The stock had a trading volume of 1,817,661 shares, compared to its average volume of 1,840,973. Okta Inc has a 12 month low of $79.55 and a 12 month high of $142.98. The firm has a 50-day simple moving average of $125.25 and a 200 day simple moving average of $118.71. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of -69.27 and a beta of 0.91.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, March 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Okta had a negative return on equity of 50.48% and a negative net margin of 35.65%. The company had revenue of $167.33 million for the quarter, compared to analysts’ expectations of $155.83 million. During the same period last year, the business earned ($0.04) EPS. Okta’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, equities analysts forecast that Okta Inc will post -1.7 EPS for the current year.

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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