Okta (NASDAQ: OKTA) has recently received a number of price target changes and ratings updates:

  • 9/20/2018 – Okta was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 9/12/2018 – Okta was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 9/7/2018 – Okta had its price target raised by analysts at KeyCorp from $65.00 to $74.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at JPMorgan Chase & Co. to $88.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at CIBC from $60.00 to $80.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at Oppenheimer Holdings Inc. from $60.00 to $80.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at SunTrust Banks, Inc. to $72.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at Deutsche Bank AG to $75.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at Canaccord Genuity from $60.00 to $75.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at Needham & Company LLC from $58.00 to $75.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Okta had its price target raised by analysts at Monness Crespi & Hardt from $62.00 to $75.00. They now have a “buy” rating on the stock.
  • 8/25/2018 – Okta was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/1/2018 – Okta was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of NASDAQ:OKTA traded up $0.90 during midday trading on Tuesday, reaching $69.42. 1,396,000 shares of the company’s stock were exchanged, compared to its average volume of 2,025,676. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of -50.67 and a beta of -0.59. Okta Inc has a 12 month low of $24.71 and a 12 month high of $75.49. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.90 and a current ratio of 2.90.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, September 6th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.21. Okta had a negative net margin of 38.13% and a negative return on equity of 56.91%. The company had revenue of $94.59 million during the quarter, compared to the consensus estimate of $85.00 million. During the same period last year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. sell-side analysts forecast that Okta Inc will post -1.12 EPS for the current year.

In related news, CFO William E. Losch sold 15,000 shares of Okta stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $53.78, for a total transaction of $806,700.00. Following the completion of the transaction, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $806,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of Okta stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $49.61, for a total transaction of $124,025.00. Following the transaction, the general counsel now directly owns 2,500 shares of the company’s stock, valued at $124,025. The disclosure for this sale can be found here. Insiders have sold a total of 621,496 shares of company stock valued at $39,671,816 over the last three months. 20.59% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in OKTA. First Trust Advisors LP bought a new position in Okta during the 2nd quarter valued at about $115,170,000. Alkeon Capital Management LLC lifted its holdings in Okta by 7,191.6% during the 1st quarter. Alkeon Capital Management LLC now owns 1,822,900 shares of the company’s stock valued at $72,643,000 after purchasing an additional 1,797,900 shares during the last quarter. FMR LLC lifted its holdings in Okta by 28.9% during the 2nd quarter. FMR LLC now owns 7,078,025 shares of the company’s stock valued at $356,520,000 after purchasing an additional 1,585,500 shares during the last quarter. BlackRock Inc. increased its position in Okta by 66.0% in the 2nd quarter. BlackRock Inc. now owns 3,802,964 shares of the company’s stock valued at $191,555,000 after acquiring an additional 1,512,528 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in Okta by 113.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,626,913 shares of the company’s stock valued at $81,948,000 after acquiring an additional 864,933 shares in the last quarter. 58.81% of the stock is owned by hedge funds and other institutional investors.

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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