Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 8,745.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,967 shares of the company’s stock after buying an additional 33,583 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Okta were worth $8,636,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in OKTA. Black Swift Group LLC acquired a new position in Okta during the fourth quarter valued at approximately $25,000. Addison Advisors LLC bought a new stake in Okta during the fourth quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in Okta in the fourth quarter valued at $28,000. Arkadios Wealth Advisors acquired a new position in shares of Okta during the 4th quarter worth about $29,000. Finally, Prime Capital Investment Advisors LLC lifted its stake in Okta by 157.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 74 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Charles Race sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $251.89, for a total value of $12,594,500.00. Following the sale, the insider now directly owns 81,559 shares in the company, valued at $20,543,896.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael R. Kourey sold 20,000 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $221.86, for a total transaction of $4,437,200.00. Following the sale, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $4,437,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,208 shares of company stock valued at $41,790,580. 12.02% of the stock is owned by corporate insiders.
Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.07. The firm had revenue of $234.74 million during the quarter, compared to analysts’ expectations of $221.99 million. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. Equities analysts anticipate that Okta, Inc. will post -1.31 EPS for the current year.
A number of brokerages have recently issued reports on OKTA. TheStreet cut Okta from a “c-” rating to a “d+” rating in a report on Friday, March 19th. Robert W. Baird dropped their price target on shares of Okta from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, March 10th. Morgan Stanley raised their price objective on Okta from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Friday, January 8th. Canaccord Genuity upgraded Okta from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Wednesday, March 10th. Finally, BMO Capital Markets reduced their price objective on shares of Okta from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, March 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Okta currently has an average rating of “Buy” and an average target price of $261.32.
Okta Company Profile
Okta, Inc provides identity management platform 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; and 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.
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