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.

In other news, Director Benjamin A. Horowitz sold 48,897 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $106.15, for a total transaction of $5,190,416.55. Following the completion of the sale, the director now owns 11,765 shares of the company’s stock, valued at $1,248,854.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jacques Frederic Kerrest sold 329,553 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.81, for a total value of $26,960,730.93. Following the sale, the chief operating officer now directly owns 11,213 shares of the company’s stock, valued at approximately $917,335.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 630,462 shares of company stock valued at $54,573,997. Insiders own 14.69% of the company’s stock.

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.

WARNING: This piece of content was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.watchlistnews.com/capital-advantage-inc-invests-675000-in-okta-inc-okta/3031057.html.

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.

Featured Story: How to Invest in the Dividend Aristocrat Index

Want to see what other hedge funds are holding OKTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Okta Inc (NASDAQ:OKTA).

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.