Whale Rock Capital Management LLC Purchases Shares of 94,952 Okta, Inc. (OKTA)
Whale Rock Capital Management LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 94,952 shares of the company’s stock, valued at approximately $2,165,000. Okta comprises about 0.2% of Whale Rock Capital Management LLC’s holdings, making the stock its 28th largest holding. Whale Rock Capital Management LLC owned 0.10% of Okta at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Glynn Capital Management LLC acquired a new position in Okta in the second quarter valued at approximately $45,855,000. FMR LLC bought a new position in Okta in the second quarter valued at approximately $23,135,000. Gilder Gagnon Howe & Co. LLC bought a new position in Okta in the second quarter valued at approximately $23,054,000. JPMorgan Chase & Co. bought a new position in Okta in the second quarter valued at approximately $21,855,000. Finally, Vanguard Group Inc. bought a new position in Okta in the second quarter valued at approximately $21,749,000. 15.03% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on OKTA shares. Zacks Investment Research raised shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, September 20th. Canaccord Genuity upped their target price on shares of Okta from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, September 8th. KeyCorp reissued a “buy” rating and issued a $35.00 price target on shares of Okta in a research note on Friday, September 8th. Finally, Pacific Crest reissued an “outperform” rating and issued a $32.00 price target on shares of Okta in a research note on Monday, June 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.20.
Shares of Okta, Inc. (OKTA) traded down 3.57% during trading on Wednesday, reaching $27.01. The company’s stock had a trading volume of 5,127,964 shares. The firm’s market cap is $520.27 million. Okta, Inc. has a 12 month low of $21.52 and a 12 month high of $33.64. The company’s 50 day moving average price is $27.32 and its 200 day moving average price is $24.91.
Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, September 7th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.03). The business had revenue of $61.00 million during the quarter, compared to analysts’ expectations of $55.90 million. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. On average, equities analysts predict that Okta, Inc. will post ($0.96) earnings per share for the current year.
Okta Company Profile
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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