Okta Inc (OKTA) Holdings Raised by BlackRock Inc.

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BlackRock Inc. raised its holdings in shares of Okta Inc (NASDAQ:OKTA) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,402,670 shares of the company’s stock after acquiring an additional 618,835 shares during the quarter. BlackRock Inc.’s holdings in Okta were worth $280,891,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Intercontinental Wealth Advisors LLC bought a new stake in Okta during the fourth quarter valued at about $55,000. Winslow Evans & Crocker Inc. bought a new stake in Okta during the fourth quarter valued at about $56,000. Penserra Capital Management LLC bought a new stake in Okta during the fourth quarter valued at about $81,000. Capital Investment Advisory Services LLC bought a new stake in Okta during the fourth quarter valued at about $99,000. Finally, Quantamental Technologies LLC bought a new stake in Okta during the fourth quarter valued at about $108,000. 66.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:OKTA opened at $82.88 on Friday. Okta Inc has a 1 year low of $37.21 and a 1 year high of $87.72. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -80.47 and a beta of 1.20. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 1.09.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Okta had a negative return on equity of 44.83% and a negative net margin of 31.43%. The business had revenue of $115.47 million during the quarter, compared to analyst estimates of $107.94 million. Analysts anticipate that Okta Inc will post -1.38 EPS for the current fiscal year.

OKTA has been the topic of several research reports. Zacks Investment Research cut Okta from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies lifted their target price on Okta to $89.00 and gave the stock an “overweight” rating in a report on Friday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $96.00 target price (up from $75.00) on shares of Okta in a report on Friday, March 8th. JMP Securities reaffirmed a “hold” rating on shares of Okta in a report on Monday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $85.00 target price (up from $75.00) on shares of Okta in a report on Friday, March 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Okta presently has a consensus rating of “Buy” and an average target price of $79.82.

In other Okta news, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $62.07, for a total transaction of $1,241,400.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $1,241,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin A. Horowitz sold 98,242 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $71.76, for a total value of $7,049,845.92. Following the transaction, the director now owns 11,765 shares of the company’s stock, valued at approximately $844,256.40. The disclosure for this sale can be found here. Insiders have sold 418,077 shares of company stock valued at $31,659,652 in the last 90 days. Company insiders own 20.59% of the company’s stock.

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Okta Company Profile

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

Further Reading: How does new data get added to a blockchain?

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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