Stevens Capital Management LP Invests $3.24 Million in Okta Inc (NASDAQ:OKTA)
Stevens Capital Management LP purchased a new position in Okta Inc (NASDAQ:OKTA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,241 shares of the company’s stock, valued at approximately $3,241,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Okta by 4.2% during the 1st quarter. First Trust Advisors LP now owns 2,670,948 shares of the company’s stock worth $220,968,000 after buying an additional 107,132 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in Okta by 28.0% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,091,177 shares of the company’s stock valued at $173,003,000 after buying an additional 457,058 shares during the last quarter. Geode Capital Management LLC grew its holdings in Okta by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 828,545 shares of the company’s stock valued at $52,860,000 after buying an additional 87,926 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Okta in the 2nd quarter worth approximately $46,680,000. Finally, Victory Capital Management Inc. lifted its position in shares of Okta by 8.1% in the 1st quarter. Victory Capital Management Inc. now owns 374,400 shares of the company’s stock worth $30,974,000 after acquiring an additional 28,140 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.
A number of research analysts have issued reports on OKTA shares. BMO Capital Markets started coverage on Okta in a research note on Thursday, August 1st. They issued a “market perform” rating and a $155.00 target price for the company. BidaskClub raised shares of Okta from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. Deutsche Bank boosted their price objective on shares of Okta from $124.00 to $152.00 and gave the company a “buy” rating in a report on Friday, June 21st. Zacks Investment Research upgraded shares of Okta from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, ValuEngine lowered shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $104.05.
Shares of OKTA stock traded up $0.38 during trading hours on Thursday, reaching $127.25. The company had a trading volume of 5,050 shares, compared to its average volume of 1,393,250. The firm’s 50 day simple moving average is $132.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of -123.47 and a beta of 1.01. Okta Inc has a 1-year low of $41.88 and a 1-year high of $141.85.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The firm had revenue of $125.20 million for the quarter, compared to the consensus estimate of $116.83 million. Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts predict that Okta Inc will post -1.35 earnings per share for the current fiscal year.
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 cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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