11,175 Shares in Okta, Inc. (NASDAQ:OKTA) Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,175 shares of the company’s stock, valued at approximately $831,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lecap Asset Management Ltd. acquired a new stake in Okta during the 3rd quarter worth $3,479,000. LB Partners LLC acquired a new stake in Okta during the 3rd quarter worth $1,115,000. Allspring Global Investments Holdings LLC raised its stake in Okta by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 232,432 shares of the company’s stock worth $17,279,000 after acquiring an additional 10,761 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Okta by 7.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 3,978 shares of the company’s stock worth $296,000 after acquiring an additional 283 shares in the last quarter. Finally, Alta Wealth Advisors LLC acquired a new stake in Okta during the 3rd quarter worth $223,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Stock Down 2.5 %

OKTA stock opened at $72.16 on Thursday. The company has a market cap of $12.26 billion, a P/E ratio of -85.90, a P/E/G ratio of 17.32 and a beta of 1.02. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company’s 50-day moving average price is $79.70 and its 200 day moving average price is $88.74. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. On average, research analysts expect that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on OKTA shares. Robert W. Baird cut their price target on shares of Okta from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Needham & Company LLC assumed coverage on shares of Okta in a research note on Thursday, October 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Citigroup dropped their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Canaccord Genuity Group dropped their price objective on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Finally, Susquehanna dropped their price objective on shares of Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Hold” and a consensus target price of $98.96.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 475,793 shares of company stock valued at $35,759,000 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

Okta Company 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.