Semanteon Capital Management LP Invests $1.27 Million in Okta, Inc. (NASDAQ:OKTA)

Semanteon Capital Management LP acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,064 shares of the company’s stock, valued at approximately $1,273,000. Okta makes up approximately 0.9% of Semanteon Capital Management LP’s holdings, making the stock its 5th largest position.

Several other hedge funds have also added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in shares of Okta in the 3rd quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new position in shares of Okta in the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Okta during the third quarter worth $39,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Okta during the third quarter worth $64,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Okta during the third quarter worth $65,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shellye L. Archambeau sold 5,000 shares of Okta stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $1,205,990 in the last 90 days. Company insiders own 7.36% of the company’s stock.

Okta Stock Performance

Okta stock traded down $0.83 during trading hours on Thursday, hitting $92.93. The company had a trading volume of 840,566 shares, compared to its average volume of 1,937,875. The firm has a 50-day moving average of $99.52 and a 200 day moving average of $86.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $15.56 billion, a PE ratio of -42.82 and a beta of 1.00. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.35. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. On average, sell-side analysts expect that Okta, Inc. will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKTA. Canaccord Genuity Group upped their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. BMO Capital Markets lifted their target price on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Okta in a research report on Friday, January 5th. Robert W. Baird raised their price target on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Oppenheimer boosted their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.39.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.