Prospera Financial Services Inc Takes Position in Okta Inc (NASDAQ:OKTA)
Prospera Financial Services Inc bought a new stake in Okta Inc (NASDAQ:OKTA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,684 shares of the company’s stock, valued at approximately $363,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Lindbrook Capital LLC increased its position in shares of Okta by 76.9% during the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Okta by 5.1% during the 2nd quarter. Stephens Inc. AR now owns 2,581 shares of the company’s stock worth $319,000 after acquiring an additional 126 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Okta by 122.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after acquiring an additional 131 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Okta by 2.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,373 shares of the company’s stock worth $527,000 after acquiring an additional 146 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Okta by 13.0% during the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $114,000 after acquiring an additional 159 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.
OKTA has been the topic of a number of recent analyst reports. BidaskClub lowered Okta from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Zacks Investment Research raised Okta from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th. Robert W. Baird set a $135.00 target price on Okta and gave the stock a “hold” rating in a report on Friday, September 13th. ValuEngine lowered Okta from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $145.00 target price (up from $125.00) on shares of Okta in a report on Thursday, August 29th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $128.67.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The business had revenue of $140.48 million during the quarter, compared to the consensus estimate of $131.19 million. Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The firm’s quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) EPS. As a group, sell-side analysts predict that Okta Inc will post -1.4 EPS for the current fiscal year.
In other news, CEO Todd Mckinnon sold 250,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $132.27, for a total transaction of $33,067,500.00. Following the completion of the sale, the chief executive officer now directly owns 206,500 shares in the company, valued at approximately $27,313,755. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael R. Kourey sold 17,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $102.73, for a total value of $1,797,775.00. Following the sale, the director now owns 17,500 shares of the company’s stock, valued at $1,797,775. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 726,552 shares of company stock valued at $93,271,570. Corporate insiders own 14.69% of the company’s stock.
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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