Capital Advantage Inc. Invests $675,000 in Okta Inc (OKTA)
Capital Advantage Inc. purchased a new stake in shares of Okta Inc (NASDAQ:OKTA) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,154 shares of the company’s stock, valued at approximately $675,000.
Several other institutional investors and hedge funds also recently made changes to their positions in OKTA. Ffcm LLC bought a new position in shares of Okta in the fourth quarter worth approximately $36,000. Optimum Investment Advisors bought a new position in shares of Okta in the first quarter worth approximately $50,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Okta in the fourth quarter worth approximately $55,000. Avestar Capital LLC bought a new position in shares of Okta in the first quarter worth approximately $63,000. Finally, Penserra Capital Management LLC bought a new position in shares of Okta in the fourth quarter worth approximately $81,000. Hedge funds and other institutional investors own 79.23% of the company’s stock.
Several research analysts recently weighed in on the stock. Canaccord Genuity upped their price objective on shares of Okta from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $137.00 price target (up from $105.00) on shares of Okta in a research report on Friday. SunTrust Banks increased their price target on shares of Okta to $110.00 and gave the company a “hold” rating in a research report on Friday. Mizuho started coverage on shares of Okta in a research report on Tuesday, March 26th. They set a “neutral” rating and a $85.00 price target on the stock. Finally, Monness Crespi & Hardt cut shares of Okta from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Okta currently has a consensus rating of “Buy” and an average target price of $95.17.
Shares of NASDAQ OKTA opened at $109.03 on Tuesday. Okta Inc has a one year low of $41.88 and a one year high of $119.96. The company has a market cap of $12.71 billion, a price-to-earnings ratio of -105.85 and a beta of 1.07.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $125.20 million during the quarter, compared to analyst estimates of $116.83 million. Okta had a negative return on equity of 52.94% and a negative net margin of 34.37%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, equities research analysts predict that Okta Inc will post -1.38 EPS for the current fiscal year.
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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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