Quantbot Technologies LP Acquires New Stake in Okta, Inc. (NASDAQ:OKTA)

Quantbot Technologies LP acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, HoldingsChannel reports. The institutional investor acquired 57,057 shares of the company’s stock, valued at approximately $4,242,000.

A number of other large investors have also made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in Okta in the 3rd quarter worth about $26,000. Blue Trust Inc. boosted its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in Okta in the 2nd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new stake in Okta in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $76.83 on Wednesday. Okta, Inc. has a 12-month low of $66.69 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The business has a 50 day simple moving average of $74.77 and a 200 day simple moving average of $85.17.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, equities analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the topic of a number of research reports. The Goldman Sachs Group cut their price objective on Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. BTIG Research cut their price objective on Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Scotiabank cut their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. DA Davidson cut their price objective on Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.30.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

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.