AM Squared Ltd Invests $163,000 in Okta, Inc. (NASDAQ:OKTA)

AM Squared Ltd purchased a new position in Okta, Inc. (NASDAQ:OKTA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,800 shares of the company’s stock, valued at approximately $163,000. Okta comprises about 0.3% of AM Squared Ltd’s holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Okta by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company’s stock valued at $1,245,564,000 after purchasing an additional 123,216 shares during the last quarter. Sands Capital Management LLC grew its holdings in shares of Okta by 2.4% during the 3rd quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company’s stock valued at $478,623,000 after purchasing an additional 136,267 shares during the last quarter. Cerity Partners LLC grew its holdings in Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after acquiring an additional 3,121,809 shares during the last quarter. Geode Capital Management LLC grew its holdings in Okta by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 2,154,575 shares of the company’s stock worth $185,547,000 after acquiring an additional 78,366 shares during the last quarter. Finally, Eminence Capital LP grew its holdings in Okta by 7.7% in the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock worth $130,392,000 after acquiring an additional 113,994 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 0.1 %

Okta stock traded down $0.09 during trading hours on Wednesday, hitting $94.92. The stock had a trading volume of 353,940 shares, compared to its average volume of 2,006,518. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $15.89 billion, a P/E ratio of -43.64 and a beta of 1.00. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The stock’s 50-day moving average price is $98.49 and its 200-day moving average price is $85.64.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Equities research analysts anticipate that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Insider Transactions at Okta

In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.23, for a total transaction of $225,575.00. Following the sale, the chief accounting officer now directly owns 6,539 shares in the company, valued at approximately $590,013.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,779 shares of company stock valued at $1,205,990. 7.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OKTA shares. JPMorgan Chase & Co. raised their price target on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Mizuho raised their price target on shares of Okta from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and raised their price target for the stock from $64.00 to $135.00 in a report on Thursday, February 29th. Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, February 29th. Finally, Royal Bank of Canada raised their target price on shares of Okta from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Twenty investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.39.

About Okta

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.