Okta Inc (NASDAQ:OKTA) Shares Purchased by Glynn Capital Management LLC
Glynn Capital Management LLC boosted its holdings in Okta Inc (NASDAQ:OKTA) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,064 shares of the company’s stock after acquiring an additional 8,254 shares during the quarter. Okta accounts for 3.5% of Glynn Capital Management LLC’s portfolio, making the stock its 14th largest position. Glynn Capital Management LLC owned about 0.16% of Okta worth $18,911,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lindbrook Capital LLC increased its position in Okta by 76.9% in the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR increased its position in Okta by 5.1% in the 2nd quarter. Stephens Inc. AR now owns 2,581 shares of the company’s stock valued at $319,000 after acquiring an additional 126 shares during the period. Valeo Financial Advisors LLC increased its position in Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after acquiring an additional 131 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Okta by 1.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,371 shares of the company’s stock valued at $1,281,000 after acquiring an additional 157 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its position in Okta by 0.8% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 23,050 shares of the company’s stock valued at $2,847,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.
Several research firms recently commented on OKTA. SunTrust Banks upgraded Okta from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $134.00 in a research report on Wednesday, October 2nd. Cowen began coverage on Okta in a research report on Wednesday, August 21st. They issued an “outperform” rating and a $150.00 target price on the stock. Canaccord Genuity restated a “buy” rating and issued a $145.00 target price (up from $125.00) on shares of Okta in a research report on Thursday, August 29th. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, October 30th. Finally, Citigroup began coverage on Okta in a research note on Monday, October 14th. They set a “buy” rating and a $150.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $130.26.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). The business had revenue of $140.48 million during the quarter, compared to analyst estimates of $131.19 million. Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the company posted ($0.15) EPS. As a group, equities research analysts forecast that Okta Inc will post -1.42 EPS for the current fiscal year.
In other news, General Counsel Jonathan T. Runyan sold 707 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.57, for a total transaction of $72,516.99. Following the completion of the sale, the general counsel now directly owns 1,406 shares of the company’s stock, valued at approximately $144,213.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick W. Grady sold 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $130.74, for a total value of $13,074,000.00. Following the sale, the director now directly owns 383,669 shares of the company’s stock, valued at $50,160,885.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 364,416 shares of company stock valued at $43,301,450. Corporate insiders own 14.69% of the company’s stock.
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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