Okta, Inc. (NASDAQ:OKTA) Stock Holdings Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its position in shares of Okta, Inc. (NASDAQ:OKTA) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 105,750 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Okta were worth $7,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC lifted its holdings in Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI increased its position in Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the last quarter. CWM LLC boosted its holdings in shares of Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after acquiring an additional 147 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Up 0.7 %

Shares of OKTA opened at $77.18 on Friday. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of -91.88, a P/E/G ratio of 16.96 and a beta of 1.02. Okta, Inc. has a 12-month low of $65.98 and a 12-month high of $114.50. The stock’s 50-day moving average price is $74.39 and its 200 day moving average price is $86.90. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, research analysts predict that Okta, Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 478,584 shares of company stock valued at $35,958,556. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKTA shares. Mizuho cut their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. UBS Group cut their price objective on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Morgan Stanley reduced their price objective on Okta from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Monday. Susquehanna cut their target price on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Needham & Company LLC assumed coverage on Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 price target for the company. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Hold” and an average target price of $99.39.

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.