Citadel Advisors LLC Grows Position in Okta, Inc. (OKTA)
Citadel Advisors LLC increased its position in Okta, Inc. (NASDAQ:OKTA) by 48.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,930 shares of the company’s stock after buying an additional 22,065 shares during the period. Citadel Advisors LLC owned 0.07% of Okta worth $1,916,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Okta during the second quarter worth approximately $101,000. SG Americas Securities LLC bought a new stake in Okta during the third quarter worth approximately $128,000. Paulson & CO. Inc. bought a new stake in Okta during the second quarter worth approximately $171,000. CI Investments Inc. bought a new stake in Okta during the second quarter worth approximately $171,000. Finally, American Century Companies Inc. bought a new stake in Okta during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 14.33% of the company’s stock.
In other news, General Counsel Jonathan T. Runyan sold 300,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $27.03, for a total value of $8,109,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William E. Losch sold 2,600 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $30.00, for a total value of $78,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,400 shares of the company’s stock, valued at $72,000. The disclosure for this sale can be found here. Insiders sold 1,231,569 shares of company stock valued at $34,925,178 over the last three months.
Shares of Okta, Inc. (NASDAQ OKTA) opened at $28.31 on Tuesday. Okta, Inc. has a 12-month low of $21.52 and a 12-month high of $33.64.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, September 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. Okta’s revenue was up 63.1% compared to the same quarter last year. research analysts expect that Okta, Inc. will post -0.96 EPS for the current fiscal year.
OKTA has been the subject of a number of recent analyst reports. Zacks Investment Research cut Okta from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Canaccord Genuity reaffirmed a “hold” rating and set a $27.00 target price on shares of Okta in a research report on Wednesday, August 30th. KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Okta in a research report on Friday, September 8th. Finally, William Blair initiated coverage on Okta in a research report on Wednesday, October 4th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $32.71.
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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